Baku, July 24, AZERTAC
July 24, 1874 is the foundation date of the first bank of the country — Kapital Bank. The first service point of Kapital Bank, which is the legal successor of Savings Bank of Azerbaijan, started to function as from July 24, 1874. For the first time, savings banks began their activity under Baku city branch of the Russian State Bank. Executive Manager of the branch was Ivan Samsonovich Khandojevsky. The Steering Committee included such well-known Azerbaijanis as Haji Zeynalabdin Taghiyev, Haji Baba Hashimov, and Haji Shikhali Dadashov.
After the proclamation of Azerbaijan Democratic Republic, Azerbaijan State Bank opened on September 30, 1919 and the activity of savings banks was restored on December 1, 1919. On April 28, 1920, after the collapse of the ADR, the activity of the Baku branch of the Russian State Bank was suspended by the decree of the Revolutionary Committee of Azerbaijan dated June 9, 1920. In January of 1924, State Labour Savings Banks, operating under the State Bank of Azerbaijan SSR, were established. In 1988, these banks were merged into Azerbaijan Republican Bank of Savings Bank of the USSR.
On February 11, 1992, Saving Bank of the Republic of Azerbaijan was formed on the basis of this Bank. On 21 February 2000, the merger of Savings Bank, Azerbaijan Agro-Industrial Bank and Azerbaijan Industrial Investment Bank resulted in the establishment of Azerbaijan United Universal Stock Bank (BUSBank).
On December 29, 2004, the Bank was renamed to Kapital Bank and currently provides banking services at a high level in more than 100 locations across the country, more than 3 million individuals and more than 22 thousand legal entities.
Kapital Bank congratulates all its customers, partners, shareholders and employees on the 145th anniversary of its activity, expresses its gratitude for cooperation and wishes them further success.
Kapital Bank, having the biggest branch network in Azerbaijan, is at the service of customers with 99 branches and 13 departments. For more detailed information about the Bank’s products and services, please refer to www.kapitalbank.az website, 196 Call Centre or the Bank’s various social network pages.
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