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NICOIL Bank’s Interbank Credit Limit Raised

Business Materials 17 March 2008 16:23 (UTC +04:00)

Azerbaijan, Baku, 17 March / Trend / Through the decision of the Committee for Management of Assets and Liabilities of the URALSIB corporation, which is managed by the URALSIB main shareholder, NICOIL bank, the authorized limit for Interbank credits for NICOIL was raised to $74.57mln, the bank reported on 17 March.

The decision reflects the increasing trust by foreign investors in the bank and the great interest towards Azerbaijan's banking system.

The resources NICOIL will receive from the increased limit will go towards crediting the Azerbaijani economy's real sector.

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