Azerbaijani banks replacing branches with departments

Baku. 5 May. REPORT.AZ/ At the end of quarter I 2017, branches of 32 commercial banks operating in Azerbaijan amounted to 561, which is less by 8 units compared to the beginning of the year.

Report informs citing the Financial Market Supervisory Authority (FIMSA).

Instead, number of bank departments increased by 6 units in January-March and reached 137.

During the reporting period, ATMs of the banks increased by 10 units and amounted to 2.471. Also, 635 employees were cut in the banking sector and declined to 16.312, while number of employees of non-banking credit institutions grew by 69 and made 2.726.