For the first time in the banking history of Azerbaijan, “Bank of Baku” returned to its 7907 customers as a gift AZN 382,000 paid as loan interest by those customers to the Bank. Interest was returned to customers within the framework of the “Interest Goes Back” campaign which was introduced last year and gained huge popularity. Loan returns were made to commemorate the 19th anniversary of “Bank of Baku”.
Interest was returned to customers who did not allow any overdue amounts during the term of their loans. Interest which was returned to the customers within this campaign was transferred as bonus to “Friends Club” cards of customers of “Bank of Baku”.
“Interest Goes Back” campaign which started on August 24, 2012, provided the customers of the Bank with two types of loan opportunities:
- Loan of up to AZN 500 for 6 months
- Loan of up to AZN 5000 for 30 months.
Currently, any bonus accumulated in “Friends Club” card can be used to pay the commission collected on the disbursement of a new loan and to pay for mobile phones air time.
In relation to the return of interest to the customers, Deputy Chairman of the Management Board of “Bank of Baku”, Abbas Ibrahimov noted the following: “By launching this campaign, “Bank of Baku” took a previously un-witnessed step in the history of Azerbaijan’s bank sector. “Bank of Baku”, the first among banks in Azerbaijan, returned interest paid by the customers on loans back to the customers. By doing so, we have tried to stimulate a no-default performance by the customers and to reward the customers. We believe that this step of the Bank will conduce to increasing customer loyalty.”
Please feel free to call the Bank at its Call Centre, at 145, in order to get more details on various products and services offered by “Bank of Baku” to its customers. You can also address your questions to the Bank by visiting our dedicated section in Facebook at: http://www.facebook.com/bankofbaku.
