On April 04, 2022 OJSC Xalq Bank (Azerbaijan) participated in Turkey's Ziraat Bank syndicated loan totalling $1.24 billion which will be used according to Environmental, Social, and Governance (ESG) criteria and support gender equality in production.
The syndicated loan involved 45 banks from 21 countries. The
participation of Xalq Bank (Azerbaijan) in this project is of great
importance in terms of strengthening inter-bank relationships and
providing for sustainable development of cooperation with banks in
the Republic of Turkey.
A syndicated loan is a financing tool offered by a group of lenders
referred to as a syndicate who work together to provide funds for a
single borrower.
Ziraat Bank is a state-owned bank in Turkey has been operating
since 1863 and has 111 offices all over the world.
Established in 2004, Xalq Bank (Azerbaijan) is a Pivot Bank and
ranks as one of the Top-3 privately owned banks of Azerbaijan in
terms of its key financial and market indicators.