16:05, 25 February 2009 Page views 268 views

Money Transfer Turnover through TuranBank Grew by 67%

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TuranBank’s (Baku, Azerbaijan) turnover on money transfers totaled USD7.7 million in 2008 versus USD 4.6 million in 2007.

The Azerbaijani Bank reported that its money transfer turnover increased by 67% in 2008. The last year’s growth on each system of urgent money transfer system was as follows: Western Union – USD2.4 million (rise: 24%), Bistraya Pochta – USD2.7 million (rise: 19.4%), Migom - USD1.8 million, CONTACT – USD800,000, Private Money – USD50,000.

TuranBank connected to money transfer system Private Money in Q2 2008. Currently the Bank serves money transfers via six systems – Western Union, CONTACT, Bistraya Pochta, Migom, Private Money and Express Money.


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