Azerbaijan, Baku, July 31 /Trend/
Azerbaijan's "Unibank" JSC signed an agreement with the Islamic Corporation for Development (ICD) on opening a new credit line of $13 million, the bank reported on Wednesday.
Unibank plans to transfer the resources which were allocated for four years to finance leasing operations. The sides intend to sign another agreement on cooperation until the end of the year.
The current loan is the second one that was allocated by the corporation. Around $1.7 million that was provided in 2004, was transferred to financing small and middle business by Unibank.
Last month, Unibank signed new loan agreements with the Black Sea Trade and Development Bank and the influential German Investment Corporation DEG.
Unibank was established on October 15, 2002 as a result of the merger of two private commercial banks in Azerbaijan, MBANK (1992) and PROMTECHBANK (1994). In 2003, the European Bank for Reconstruction and Development (with a 15.15 percent share) and in 2005 the DEG company (with 8.33 percent share) became the shareholders of the bank. Being the most successful example of consolidation in Azerbaijan's bank sector, for over 20 years of its activity, Unibank was awarded by reputable organizations for successful development of business and high level of management.
For successful activity in 2012, the International Rating Agency Fitch Ratings reaffirmed the long-term rating of Unibank at "B" level. The International Rating Agency Moody's Investors Service also affirmed the long-term rating of Unibank on bonds in international and national currency, at "B2" level.
Additional information about this and other services can be received by phone: (012) 117, on bank's website (http://www.unibank.az) or on bank's facebook page (www.facebook.com/unibank.az)
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