Bank of Baku has received yet another prestigious award: the national prize “Ugur” (“Success”), awarded for best performance in various sectors of economy and business. The Bank was awarded in the “Retail banking market leader in Azerbaijan. Bolkart: the most successful credit card” nomination.

At the award ceremony, Mr. Abbas Ibrahimov, Deputy Chairman, Bank of Baku, stressed that this was an accomplishment of all of the bank’s employees. “This award is a great success of each and every of our employees, no matter what position or level they hold”.

It should be noted that it’s the second time Bank of Baku is awarded this particular prize, “Ugur”: it was awarded the “Best retail bank of the year” nomination in 2007.

When awarding the prize Bank of Baku was stated to have earned the leadership in both consumer lending and plastic card markets in Azerbaijan. The scope and level of non-cash payments involving Bank of Baku’s plastic cards is a universally acknowledged achievement. Bank of Baku is also the first bank in Azerbaijan to have introduced an installment-based credit card, the Bolkart, that has since gained widest acclaim and coverage. Thousands of Azerbaijani citizens use Bolkart cards today.

The national prize “Ugur”, instituted in 2000, evaluates the success ratio of local companies and businesses. Hundres of local companies are reviewed and appraised by a panel of experts every year. The “Ugur” prize is awarded to companies and corporations that have made a significant contribution to the economic and social life of Azerbaijan.