Azer-Turk Bank
 | |
| Open Joint-Stock Company | |
| Industry | Banking |
| Founded | 1995 |
| Headquarters | Azerbaijan, Baku |
Number of locations | 7 branches |
Area served | Azerbaijan |
Key people | Orkhan Guseynov- Chairman of the Executive Board |
| Owner | State Committee on Property Issues (75%) |
Number of employees | 500 |
| Website | www.azerturkbank.az |
Azer-Turk Bank is a private commercial bank established on May 25, 1995[1] based on a license issued by the National Bank of Azerbaijan Republic. The bank's total capital exceeded AZN 50 mln (USD 29 mln).
About
The Azer-Turk Bank Open Joint-Stock Company was founded on May 25, 1995 on the ground of license № 234 of the Central Bank of Azerbaijan dated June 29, 1995 the Bank started its activities on July 11, 1995. The banking license issued by the Central Bank of Azerbaijan grants the Bank the right to attract deposits or other floating assets in national and foreign from physical and legal parties, grant credits in its own name and at its own expense, as well as to perform transfers and settlement-and-cash transactions on behalf of clients as a whole.
On the ground of the license the Bank can carry out other types of activities stipulated by the Bank Law of the Azerbaijani Republic at its own or clients’ expense, excluding activities in the field of purchase and sale of precious metals and gems, attraction to deposit and placement of precious metals. The Azer-Turk Bank Open Joint-Stock Company maintains correspondence relations with banks of Turkey, United States, England, Germany and Russia.
Owners
The Azer-Turk Bank OJSC is the member of the Inter-Bank Exchange Market of Baku, the Bank Association of Azerbaijan, the Stock Exchange of Baku, the MilliKart Processing Centre, the SWIFT and the KОMİS payment systems, as well as the Western Union, Universal Payment Transfer, Contact and Monex international quick money transfer systems, including the international card organization MasterCard İnternational.
Currently, State Committee on [2]
- Property Issues of Azerbaijan Republic (75.00%)
- Ziraat Bank of the Republic of Turkey (12.37%)
- AzRe Reinsurance OJSC (6.55%)
- Qala Life İnsurance Company OJSC (5.00%)
- Ziraat Bank İnternational AG (1.08%)