AGBank says of no financial, economic and legal grounds for its closure


December 26, Fineko/abc.az. The management of Azerbaijan’s AGBank has commented on the rumors related to the possible closure of their Bank.

AGBank’s chairman of board Afgan Jalilov has stated that the Bank continues its operations as usual and there are no financial, economic and legal grounds for its closure.

"The Bank is applying a more cautious credit policy with taking into account the existing market risks. Also, in the near future our Bank, in addition to providing new products, will implement a number of innovative projects," Jalilov said.

He added that the number of Bank’s personnel exceeds 700 employees and the quantity of customers is more than 320,000 and there are no problems with lending. AGBank’s mortgage portfolio amounts to AZN 56.3 million.

To date, the Bank has given over 1,800 usual and social mortgage loans and currently the number of such active loans given by the Bank reaches 1,600. Under the new terms, AGBank has already given mortgage loans for AZN 11.3 million.



Keywords: AGBank