Azerbaijan, Baku, June 16 / Trend /
The Azerbaijani Bank Respublika decided to reduce interest rates and increase micro-credit and credit lending for small and medium businesses, the bank reported.
The decision was based on analysis of historical performance of this kind of credit products.
"High levels of liquidity allowing the bank to fully comply with all obligations without additional attraction in a timely manner, allows the bank to offer the above loan products on unrestricted long-term basis to entities engaged in entrepreneurial activity," the bank reported.
Acceptable credit conditions and a wide branch network of the Bank Respublika allows entrepreneurs to obtain business loans, loans for small and medium enterprises, agro-and group lending not only in Baku, but also in 19 regions of Azerbaijan.
Bank Respublika started operating in 1992. Among its shareholders are two large German financial institutions DEG and SIDT with a Bank Respublika share package of 25 percent + 1 share. The bank has 33 branches and units in Baku and the regions. Bank Respublika has a rating of B2 with stable outlook from the international rating agency Moody's Investors Service.
The bank's loan portfolio amounted to 170.5 million manat as of June 1, 2010. Over the past year, Bank Respublika was able to attract credit lines worth $ 31 million from the foreign organizations for lending to small and medium businesses.