The Business Year

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Fuad Musayev

Chairman of the Supervisory Board, TuranBank

IN FOR THE COUNT

Over the last 20 years we have seen rough periods in our development, but within this period TuranBank has always aimed to contribute to the development of the financial sector in Azerbaijan.

DIRECTIONS

We are in the process of developing e-banking, Islamic banking products, and private banking services, as well as the expansion of our branch and service network. At the same time, we want to grow in non-cash payment activities, which are being promoted by the government as well.

GLOBAL INTEGRATION

As the country’s economy continues to develop, we need to learn fast to integrate into global business. International cooperation and partnerships are a very useful way to learn.

Fuad Ganbarov

NBC Bank, CEO

GOOD BALANCE

Our bank’s ratio of interest-bearing assets relative to total assets is one of the highest among all Azerbaijani banks, meaning that NBC bank has done a marvelous job in terms of efficiently balancing its asset allocation.

TARGETS

We plan to extend the volume of our loan portfolio in the agribusiness, consumer credit, SME, and mortgage segments.

FUTURE PRIORITIES

Opening correspondent accounts with foreign banks, conducting interbank activities, attracting FDI, and using the rich experience foreign banks can offer should be the priorities for our sector in the future.

Akif Askerov

Chairman of the Board, Akif Askerov

NO FEAR

When AFB Bank was established, there were 45 banks operating in Azerbaijan. Joining such an active field with that many competitors may seem a bit surprising. However, we took the initiative relying on our potential to become an innovative bank.

CRUCIAL SPECIALIZATION

AFB Bank is specialized in corporate, private, and internet banking. We carry out our corporate banking services by financing SMEs as well as projects that are crucial to the development of the country’s economy

INTO THE FRAY

Apart from Baku, we are planning to increase our presence in the regions of Azerbaijan, opening new offices in the main urban centers. Currently, we have three branches outside Baku, and we will open two additional branches and one division in 2012.

Emin Mammadov

CEO & Owner, Expressbank

FULLY PRIVATE

Azernegliyyatbank, the old name of the bank, was established in 1989 as a commercial bank by various institutions belonging to the Ministry of Transport. Since then the ownership structure of the bank has changed significantly, resulting in the full privatization of the bank by 2005.

THE NUMBERS

The bank has boosted its credit portfolio by AZN35 million, reaching AZN81 million as of end-2011. Net profits for the year exceeded AZN11 million, up from AZN6.3 million in 2010.

SEEING THE POTENTIAL

Expressbank sees major potential in this segment, but one that will always be linked to the retail side of our operations. The development of both retail banking and plastic cards will go hand in hand in the future. During 2012 our institution will develop important plans in this regard, such as the creation of our own processing center.

Faiq Huseynov

Chairman of the Management Board, Unibank

BIGGER & STRONGER

During 2008 and 2009, the global crisis affected the Azerbaijani banking system. However, it did not affect it severely, and we can consider those years as a time for readjustment. We went through what many other big banking players did. However, Unibank came out of this period in a stronger position.

THE RIGHT TOOLS

We have always tried to explore the market for new financial tools and products; innovation has been a key characteristic of our bank. By the end of 2011 we completed the issuing of bonds totaling AZN20 million.

TO THE REGIONS

Azerbaijan’s regions are rapidly expanding and growing and I think there is huge potential. Azerbaijan is not only Baku, but also many other cities that are growing around the country, and we need to do our best to support proportionality and sustainability in this country’s economy.

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