Azerbaijani bank in Montenegro changes name

Baku, September 23, AZERTAC Azerbaijani capital "Azmont bank” in Montenegro has changed its name to Nova Bank, since June. Azmont Bank is owned by Azmont Investment, a subsidiary of Azerbaijan Global Investments (AGI). The bank was established in June with capital of 11.98 million EUR ($13.4 million). Its headquarter is located in Podgorica city. Azmont Investment is currently involved in the construction of the Portonovi resort which will cover an area of 26 ha and feature a luxury hotel, 500 residential units and villas, a marina with 220 berths for super yachts, yacht and beach clubs, spas and restaurants. The resort will be put into operation in summer 2018.