OREANDA-NEWS. September 23, 2009. Bank of Azerbaijan, one of the domestic financial sector leaders is working actively to optimize its branch network for the purpose of improvement of quality of services for the population.

“Optimization of our branch network stipulates increase in quantity of BoA branches throughout the country. Already in November or December of the year we are going to commission two large branches to be established on the basis of a range of small ones,” Bank’s chairman of board Khayal Sharifzadeh said.

The branches will open in the Yasamal (nearby Ganjlik metro station) and Narimanov (close to Elmlar Akademiyasi metro station nearby Huseyn Javid Park) districts of Baku.

BoA pays grave attention to location of its new branches. For convenience of the population large branches will be opened not far from metro stations and busy streets. Each branch will have modern parking for automobiles.

In Bank’s plans is also opening of branches near metro stations Gara Garayev, Neftchilar and microdistricts. Recently BoA has opened a branch in the Trade Centre of the Baku Bus Terminal Complex.

Number of the BoA branches will also grow due to creation of new branches in both Baku and regions of the country.

“In 2010-11 BoA expects to open branches in such regions as Sumgait, Guba, Ganja, Lankaran, Mingachevir. In particular, realizing quite well significance of regions in life of Azerbaijan the Bank intends to expand branch network in this direction and thereby to conform to its name. Our Bank is now numbering branches in Sabirabad, Nakhchivan, Balaken, Zardab and Ujar,” Sharifzadeh says.

In addition, the BoA management made a decision to reduce quantity of exchange offices situated in different points of Baku.

It was done first of all with the purpose of optimization. Branches’ exchange offices will operate under usual schedule.

But BoA plans do not finish on optimization of branch network, expansion of products and range of services. The Bank intends to gladden further the country’s citizens with its products by giving support to local business organizations and private persons.

BoA charter capital is AZN 15 million and overall bank assets more than AZN 127 million. Today BoA is in ranks of the 18 domestic banks having the right for mortgage loan disbursal.