Licensed by the Central Bank of Azerbaijan in November 2008, AFB Bank began operating in February 2009. AFB Bank is part of the Gilan Holding Group, one of Azerbaijan’s largest diversified conglomerates. AFB Bank is constituted as a privately owned Open Joint-Stock Company as per Article 19 of the Banking Law.
AFB Bank is a universal bank, which offers corporate and retail banking products and services. The Bank services corporate and retail clients through a growing branch network (10 new branches planned for 2010), as well as its newly launched Internet and Telephone Banking. Through its insurance subsidiary, AFB Bank will also be active in the domestic insurance industry in 2010, using its subsidiary as a platform to cross sell insurance products to its client base.
