Caspian Development Bank Expands

JSC Caspian Development Bank plans to open a specialized mortgage subsidiary in Baku.

According to the report by the main shareholder (Synergy Group), the management also plans to establish a branch network, starting with the cities of Quba and Barda.

JSC Caspian Development Bank (previously Kovsar Bank) was established in 1988, and in December of last year the bank's shareholders changed. In particular, the major shareholder of the bank is the Azerbaijani Synergy Group founded in 2010. It is one of the largest private investment holdings in Azerbaijan. The bank's authorized capital is 50.02 million manats. --17D-

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