International Bank of Azerbaijan

From Wikipedia, the free encyclopedia
ABB
TypeOpen Joint Stock Company
IndustryBanking
Founded10 January 1992
Headquarters
Baku
,
Azerbaijan
Key people
Chairman of the Board
Websitewww.abb-bank.az

ABB (Azerbaijani: Azərbaycan Beynəlxalq Bankı, [ɑzærbɑjˈd͡ʒɑn bɛjnælˈxɑlk ˈbɑnkə]), the largest bank in Azerbaijan, is an open joint-stock company whose shares are owned by the Azerbaijan state.

History[]

ABB OJSC was founded on January 10, 1992, as a joint-stock bank. The head office of the bank is located in Baku. ABB is currently one of the leading banks in the South Caucasus region in terms of assets, customer base, and international operating portfolio. With 48 branches and 28 sub-branches in different regions of Azerbaijan, the bank provides universal banking services to private and corporate clients. The number of legal entities served by the bank is about 18,000, and individuals - more than 1.3 million. The bank employs more than 1863 people.

Service network[]

ABB closely participates in large-scale state projects in such sectors as oil chemistry, transport, communications, energy, etc. and various social programs. At the same time, it actively supports the financing of large, small, and medium-sized businesses.

In 1996, ABB established the processing card company "AzerCard", that served as a basis of card processing business in the country. In 1997, the Bank began cooperation with Visa and MasterCard, later the Bank expanded this activity and announced partnerships with such international payment systems as American Express, Union Pay, Diners Club, and JCB. ABB is a local leader in terms of the number of international payment systems that are the bank's partners. The bank offers its customers a wide range of payment cards, such as VISA, MasterCard, American Express, and Union Pay. This bank is the first and only Bank of Azerbaijan to offer customers an opportunity to order American Express payment cards, as well as to hold operations with JCB cards.

ABB has the largest local network of ATM. Currently, there are about 900 ATMs, and over 13,000 POS terminals located at trade and service points covering in various regions of Azerbaijan. For the first time ever in Azerbaijan, ABB has provided pension and wage payments through payment cards. At present, the number of active payment cards of the bank exceeds 1 million 300 thousand.

In 2019, ABB introduced the multifunctional product Tamkart. In 2020, the bank introduced ABB Miles cards to customers.

Board of Directors[]

ABB's Board of Directors includes seven members:

  • Chairman: Abbas Ibrahimov
  • The First Deputy Chairman: Ilham Habibullaev
  • Deputy Chairman: Vasif Akhmedov
  • Deputy Chairman: Taleh Tahirli
  • Deputy Chairman: Agshin Amirov
  • Deputy Chairman: Nabi Aliyev
  • Deputy Chairman: Elmir Habibullayev

Activity[]

Mutual partnership relations[]

"VISA PayWave", "Mastercard PayPass", NFC and Payment Rings technologies have been introduced in Azerbaijan for the first time by ABB.

Application of the "Zero Liability" policy within the framework of partnership with VISA is also the sole name of ABB.

In 2002, the bank established a subsidiary in the Russian Federation. The Russian subsidiary currently operates under the name Bank ABB-Moscow.

In 2019, the bank, in cooperation with its regional partner the Italian football club Juventus, introduced the market co-branded Mastercard Platinum debit cards.

Awards[]

In 2019, ABB was named the best bank of the year in the country by the well-known “Euromoney” magazine.

In 2020, the bank was named “The Best Bank in the Country” by “Global Finance”.

In 2020, one of the largest international communities in the field of small and medium-sized businesses “SME Banking Club” included ABB in the list of the 20 best banks in the CIS and the Caucasus in terms of innovative opportunities.

Projects[]

Implementing many social projects to support the development of innovations in Azerbaijan, the bank created ABB Tech Academy in 2019 and held the 1st Regional Hackathon in 2020. In 2020, ABB created "Sahibkarlar Klubu" to support the development of small and medium enterprises, strengthen the position of the bank's corporate customers in the country's economy and expand the business of export-oriented customers.

Memberships[]

ABB is a member of the following professional organizations and systems:

See also[]

Notes[]

References[]

  • Battilossi S. Financial Innovation and the Golden Ages of International Banking // Financial History Review. 2000. No. 7. pp. 141–175.
  • Стратегическая Дорожная Карта по финансовым услугам в Азербайджанской Республике.
  • Утверждена Указом Президента Азербайджанской Республики от 06.12.2016 года. Баку, 2016. 59 с.
  • Lees F.A. International Banking and Finance. London: Macmillan, 1974. 419 p. DOI: 10.1007/978-1-349-02148-2
  • Robinson S.W.Jr. Multinational Banking. Leiden: A.W. Sijthoff, 1972. 200 p. Ruckdeschel F.B. Risk in Foreign and Domestic
  • Lending Activities of U.S. Banks // Columbia Journal of World Business, Winter 1975. 68 p
  • International Banking in the New Era: Post-crisis Challenges and Opportunities. Ed. by S.-J. Kim, M.D. McKenzie. Bingley:
  • Emerald Group Publishing Limited, 2010. 485 p.
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