The Kazakh TuranAlem Bank did not wait until the National Bank of Azerbaijan granted a permission to open the bank’s representation in Baku.

Nearly a year ago the bank was registered in the Ministry of Justice of Azerbaijan but did not receive NBA’s permission to launch official activity as BTA representation.

“The delay may only mean that the NBA is not willing to grant a permission,” Valentina Vladimirskaya, the head of the TuranAlem press service noted. At the same time, she did not rule out that from the territory of Kazakhstan it will be possible to continue the work the bank’s office in Baku conducted since 2005.

The official ceremony dedicated to the opening of BTA representation in Azerbaijan was held on August 24, 2005.

BTA’s strategic goal in Azerbaijan was the participation in the capital of Azeri banks.