One of Biggest Azerbaijani Banks Expect Syndicated Credit in December

Business Materials 1 November 2007 18:33 (UTC +04:00)

Azerbaijan, Baku / Trend corr. A.Badalova / One of the biggest Azerbaijani Bank Standard will receive new syndicated credit in the mid of December 2007 in amount of $35mln, Salim Kriman, the manager of the bank management, said. The syndicate will be allocated by the Raiffeisen Zentralbank Osterreich and South African Standard Bank. However, Kriman said the list of banks may be increased.

"The sum of the credit has already approved. The credit will be allocated in two tranche, for a year and half a year," Kriman said.

The new credit will be received after close of the syndicate in amount of $24mln allocated by Raiffeisen Zentralbank Osterreich AG and South African Standard Bank Plc in April. The budget of the credit is directed for development of trade operations.