Euromoney Announces Unibank Best Bank of Azerbaijan

Business Materials 29 September 2007 11:49 (UTC +04:00)

Azerbaijan, Baku / Trend / Euromoney, British monthly financial magazine, again announced Unibank, a successful bank in Azerbaijan's financial market bank, best bank of Azerbaijan for its activities in 2007, according to the bank.

Unibank is a single bank in Azerbaijan honoured with such a high name.

Annual prestigious Euromoney prize is bestowed on leading banks in 70 countries. The key selection criterion is the best results on main financial indices, such as the position of a bank in the market, range and quality of its services.

"To be the best and to receive high ratings is not an easy task. To retain leading position and high indices, especially in rivalry with other banks, is even more difficult. I am glad our employee's professionalism and fidelity to work enabled achieving this goal and now we may strive for more difficult goals," The president of Unibank, F. Huseynov, said.

Unibank was established on 15 October 2002 as a merge of Azerbaijan's two private commercial banks. The European Bank for Reconstruction and Development (EBRD) and German Investment Corporation (DEG) are shareholders of the bank. Unibank is a large private creditor in Azerbaijan. Its branch network includes the central office and nine branches employing over 450 people. The bank provides for a wide range of services.

In 2005, Unibank was for the first time announced the best Azerbaijani bank.