Three branches of Bank of Baku closed

Baku. 30 September. REPORT.AZ/ Bank of Baku OJSC released an information about the suspension of the activities of the three branches in Baku. These branches are "28 May", located at Nasimi district, st. Rashid Behbudov, 17, a subsidiary of "Babak", located at Nizami district, Babek avenue, 2269, a subsidiary of "Yeni Guneshli", located at Yeni Guneshli array D, st. Guneshli.

As Report was told in the bank, the decision was made in line with the policy of optimization of the branch network.

Employees of these branches will continue to work in other branches of the bank.

According to the approved three-year plan, union of another branch is expected next year.

To date, the total capital of the bank is 107 million manats (required - 50 mln. AZN), capital adequacy ratio is equal to about 17% (required - 12%), the ratio of liquid assets to total assets of approximately is 20%.