Amrahbank Started Operations On December 28, 1993 With License Date Of December 28, 1993 And Is One Of The Leading And Fastest Growing Banks In Azerbaijan. The Bank Offers A Wide Range Of Banking Services To Corporate Customers And Natural Persons. The Services Provided Include Issuing Loans To Legal And Natural Persons, Maintaining Documentary Transactions, Opening Current And Deposit Accounts, Issuing Credit Cards, Money Transfers, Investment Advisory Services, Insurance Services, Etc. From Its Inception Until Today, Amrahbank Has Been Able To Achieve Rapid And Sustainable Growth In Financial Metrics And Prudential Standards. Due To The Implementation Of The Amrahbank Business Management Model That Meets The Requirements Of Production And The Highest Quality, The Bank Has Been One Of The Most Profitable Banks In The Country In Terms Of Assets (ROA) And Capital Profitability (ROE) Indicators. Amrahbank Is Actively Implementing A Comprehensive Development Strategy, One Of Its Components Is The Creation And Expansion Of A Branch Network In Many Regions Of Azerbaijan. Amrahbank Is Now Ranked 11th Among Azerbaijani Banks. The Bank Has 24 Branches And Departments, 15 Of Which Are Located In The Capital City Of Baku. The Bank Provides 700,000 Professional And Skilled Partners To Its More Than 700,000 Customers. In 2008, The Transaction Of The Bank Was Sold To The International Investment Bank (BIB) In Bahrain, An Important Milestone In The History Of A Bank. The International Investment Bank Is Considered A World-renowned Organization That Has Played An Important Role In Improving Amrahbank's Corporate Governance, Covering All Aspects Of The Bank's Activities, Including Sharing Knowledge And Experience In Risk Management With Our Partners, Among Others. This Strategic Partnership Has Opened Up A Wide Range Of Opportunities For Amrahbank To Establish Close Relationships With Various Leading Financial Institution Groups. Currently, Natural Persons Own 54.16% Of The Shares And IIB Owns 45.84%.
Earlier, Amrahbank, With The Support Of The European Central Bank And External Advisors, Began Implementing A Major Restructuring Program Within The Bank In Order To Implement Its Ambitious Development Program. In 2009, As Part Of This Program, Experienced And Skilled Banking Professionals Were Invited To Take Leadership Positions To Improve The Quality Of Management And Service Delivery Processes Within The Bank. In June 2009, Amrahbank Began Implementing New Corporate Beliefs To Reflect Its New Outlook And Strategy. To Complete This Important Project, The Bank Attracted The World-renowned Company McCann Erickson. In Order To Support Growth, Have The Necessary Infrastructure And Provide Higher Quality Services To Its Customers, Amrahbank Has Acquired State-of-the-art T24 Banking Software From Temenos, One Of The World's Leading Manufacturers Of Banking Software. Work Is Now Underway To Implement The Program. As Part Of Its Detailed Development Program, Amrahbank Is Developing And Strengthening Its Partnerships With The Largest Financial Institution Group In Countries Around The World In The Areas Of Financial Instruments, Bilateral Credit Lines, Trade Finance, Project Finance, Technical Assistance, And More.
Recent Developments In This Direction Include: Kuwait Finance Corporation (KFH). Amrahbank Has Conducted Leasing Business With Turkapital, A Division Of Kuwait Finance House Group. - Islamic Development Bank (IB). To Finance The Activities Of SMEs, Amrahbank Has Secured A Line Of Credit From The ECB's Breeding Organization, Islamic Business Finance Corporation. - OPEC Fund For International Development (OFID). The Fund Has Opened A Line Of Credit To Finance Transactions To Amrahbank. The Bank's Near-term Strategic Plans Include Launching Banking Products That Comply With Islamic And Legal Principles, Benefiting From A Wide Range Of Opportunities In Azerbaijan And Surrounding Countries, Opening Representative Offices In Abu Dhabi And London, And Obtaining Ratings From International Rating Agencies.
Amrahbank Is Also A Member Of Many Professional Organizations, Including: - Association Of Azerbaijani Banks - Baku Interbank Union - VISA International-MasterCard- Azericard - SWIFT - Western Union - State Ownership Fund - Azerbaijan Insurance Fund - Certification Carried Out By Azerbaijan Microbiology Society - Azerbaijan Ipoteka Fund And Moody's International ISO-9001:2000 Has Confirmed That Governance Meets The Highest Requirements Of Bank Governance. Amrahbank Will Train Card Processing In The Country Is One Of The Founders Of The National Health Association Of The United States. Amrah Insurance Is A Company That Works With The Bank To Provide Various Products And Services To The Bank's Customers In The Insurance Industry.
