“Bank TuranAlem” plans to open a subsidiary structure in Baku.

“The financial market of Azerbaijani is dynamic and is of great interest for carrying on business”, TrendCapital Agency quotes the Chairman of the Board of Directors of “Bank TuranAlem” SC Mukhtar Ablyazov.

According to Ablyazov, a subsidiary enterprise will be opened in Baku, which will be providing a multi-purpose spectrum of services. It is expected that the branch will start functioning in the second half of 2007.

“The opening of the “Baku-Tbilisi-Ceyhan oil-pipe line stimulates the high speeds of development of economy. We see that if we enter the given market, we will be earning good money and will be competitive”, he added.