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ECONOMY

FIRST REGIONAL BRANCH OF ATABANK OPENED IN KHACHMAZ

22.07.2003 [19:57]
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The first regional branch “Atabank” has opened in Khachmaz province of Azerbaijan. It is expected to render services to the Northern regions of Azerbaijan. At the opening ceremony, Chairman of the Bank’s Oversee Council Ahmet Erentok noted that the Bank’s activity is aimed at financing of the existing enterprises and those being under construction in Khachmaz, and providing needs of the population with up-to-date banking services.

Development of the region requires extra funds, which could be accumulated from the bank deposits made by the population: the “Atabank” will spend the funds for development of just this region.

Credit portfolio of the “Atabank”’ s Khachmaz branch is expected to reach $2 million. Next year, it plans to spend for development of Khachmaz approximately $5 million.

The bank is expected to open similar branches in Ganja and Sumgait.

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