Azmont Investments, a subsidiary of the State Oil Company of Azerbaijan (SOCAR), plans to open a bank in Montenegro.
“Given the extensive experience of Azerbaijan Global Investments (AGI) in the financial sector and the development opportunities of the banking sector in Montenegro, Azmont Investments has decided to establish a bank in Montenegro,” the company said in a statement.
Azmont Investments will also continue to develop the project Portonovi, a 60-acre resort along Montenegro’s Bay of Kotor. Completion is set for 2017.
