Azerbaijan UniBank Expand Functioning for Local Capital Attraction

Business Materials 9 February 2008 11:05 (UTC +04:00)

Azerbaijan, Baku, 9 February / Trend corr. I.Khalilova / The commercial UniBank is planning to expand the volume of foreign loans in the amount of $150-200mln in 2008, Eldar Garibov, UniBank Supervision Council chairman, said.

The funds will be attracted for development of small and medium business in the country, trade financing and direct crediting (to sign deals directly with big banks).

According to Garibov, presently, UniBank is to sign a deal with one of the biggest foreign banks, which will for the first time implement a syndicated crediting in Azerbaijan.

"In 2008, we are planning to focus on increase of local deposits," he stated.

The development of international relations is one of the priority directions for business development for UniBank. The bank has the biggest investments portfolio among the private banks of the country attracted from foreign investors.