Pakistani Bank to Operate in Baku

The National Bank of Azerbaijan (NBA) has granted a license to the Pakistani national bank’s Baku subsidiary. This brings the number of banks operating in the country with foreign capital to 16.

The activity of the new affiliate, which will start with the 25 billion manats ($5.3 million) charter fund, will help strengthen business ties between the two countries.

The Pakistani National Bank is one of the largest banks in Asia in terms of its capital turnover. It is operating 23 affiliates, divisions and offices in 18 countries around the world.