International Expansion
In May 2008, the bank became the Azerbaijan source for the issuance of Eurobonds and American Express credit cards. In July 2008, the bank received permission from the U.S. Federal Reserve Board to open a representative office in New York City. The bank is expanding internationally. In the first six months of 2012, direct investment into Azerbaijan increased to $2.2 billion, which was a 27 percent increase over the same period a year earlier.
Read more about this topic: International Bank Of Azerbaijan
Famous quotes containing the word expansion:
“We are caught up Mr. Perry on a great wave whether we will or no, a great wave of expansion and progress. All these mechanical inventions—telephones, electricity, steel bridges, horseless vehicles—they are all leading somewhere. It’s up to us to be on the inside in the forefront of progress.”
—John Dos Passos (1896–1970)