AZERIGAZBANK - MODERN ECONOMY BANK
The Caspian Sea not only inspires but also unites both countries and business. Modern world knows that the Caspian is a big oil. Today, the oil and the world economy are integral parts. The sea and the sail are also as integral allegories. It is not secret that the world business elite likes yachting. Business and yacht sport have many commons: there is needed the will, command soul and intuition for succeeding in both fields. It full measure regards Azerigazbank too. Authoritative specialists of banking issue think that finance business development goes on the way of personalization of banking products and further the service quality improving. At the same time there is no forgotten the main in banking matter - the own idea management demanded at the market of banking products and PEOPLE! Namely these components connected into corporation and create AGBank. He says us - Welcome to family! And in February 10, 2005 AGBank became the member of the Caspian Integration Business Club - CIBC.
Bank sector of Azerbaijan increases its activity. The leaders of Azerbaijan banking crime members are going to participate not only in programs of international finance institutes but also in associations which really provide with possibilities for participation in integration projects. CIBC put ahead of its participants such kind of subjects. At the same time AGBank is participant of Baku International Bank Currency Exchange, Banks Associations of the Republic of Azerbaijan, Commercial and Industrial Chamber of Azerbaijan, Azerbaijan Free Entrepreneurs Confederation Presidium, Azerbaijan Tourism Industry Development Association, German - Azerbaijan union of economy assistance, principal member of the international payment system Mastercard International, associative member of VISA system. AGBank is one of the two bank-agents of International Finance Corporation (IFC) on program of small and middle business financing in Azerbaijan has two credit lines of European Bank for Reconstruction and Development (EBRD) on commercial financing and crediting of SME, credit line of Azerbaijan-German Fund (KfW), member of National Fund of Supporting for Entrepreneur. Azerigazbank is one of the founders of AG Leasing. It has also established the new at the market of Azerbaijan the discount bank system - AG Club.
Azerigazbank assets increased in the first quarter of the current year for 20,55 bn manat and reached 213,5 bn AZM. Bank's credit portfolio multiplied for 11,6 bn up to 115,2 bn AZM. Also rose the cost of main facilities of bank for 700 mln up to 19,9 bn AZM. Joint capital increased for 2 bn up to 29 bn AZM. Paid quantity of ownership capital made 26,8 bn AZM. AGBank clear profit after payment of taxes made 2,058 bn AZM (for 801 mln. AZM more that the figure for the same period in 2004).
Stock Investment Bank AGBank is the first at market in Azerbaijan elaborated and commissioned the conception of banking grocery line. John Moltbi (general manager of London Credit Institute Kensington Group) affirms that banks should show more dynamism and innovation in its reaction to often changing of market demand (it means "mass-market"). According to him the problem is that the banks fulfill product's standardization with the aim of itself comfortable operation increasing. Instead of it, they should be focused their attention in providing of corresponding of their production to customer's demands and at the same time to multiply the opportunities regarding adaptation of service to needs of specific group of consumers. As everywhere, consumers' demand in developing Azerbaijan are differ and depend of their style, living, business specific. Consumers segmentation by these categories such as revenue, age and gender are acceptable. There is necessary the modern analitical instruments for differentiation of bank market.
Azerigazbank firstly in the republic bonded for 5 years. Provided the quotation of its bond and fully liquidity. AGBank became the first market maiker at fund market of Azerbaijan. The rule No. 1 for the bank's staff - the content of bank products are quarantees and image of Azerigazbank. The main attention of bank and its branches are paid to improving and personalization of consumer's service. The list of vital problems which stand ahead of AGBank managers - brand, advertisement, the role of bank departments, the products and services assortiments, structure and information technology organization. On VISA Gold card was written the following: "Much in the small", on Visa Standard - "Owner is lucky" and on Visa Electron - "All mine with mine". AGBank became the first among the banks of Azerbaijan which had a chance to launch of these cards. Bank fulfills emission of the plastic cards of Eurocard/Mastercard, Cirrus/Maestro/EDC payment system. AGBank in 2002 jointly with STI Azerbaijan elaborated the exclusive program for students of Azerbaijan (since September 1, 2003 of "ISIC Maestro" discount card and AGBank firstly in Azerbaijan became access for shoolers elder of 12). ISIC Maestro at the same time is favourable international student card. AGBank emits such cards as Visa Gold, Visa Classic, Visa Electron. Jointly with MasterCard Azerigazbank implements actions and competitions among more active plastic cards users.
Azerigazbank fulfills the agreements with the Western Universities and Azerbaijan Bank Training Center by preparation of probationers. By passing of practical course in AGBank these young specialists find their future place in structures of financial market of the republic. Azerigazbank brand exists since 1992 bank operating in market. Azerigazbank reliable stands after this. In business living the entrust always stands in the first place. Azerigazbank conversion into the strong finance credit institution was possible due to director and staff which operating there for a long time. From the beginning Bank was opened for all categories of consumers and provided its development with offering to market of new bank products and services. AGBank implementing the stated could achieve a lot. Due to good organized corporative work for the last year there is appeared 400 new juridical persons and 4500 natural persons. Credo AGBank - staff, this is a family!
Welcome!
P.S. During journal's making up Azerigazbank opened its seventh branch in "CASPIAN PLAZA" which called as "Caspian" branch and it is harmony with bank joining to CIBC.