Azerbaijani Azerdemiryolbank corrects development strategy in the light of global financial crisis

Azerbaijan, Baku, Dec. 12 / Trend , corr. N.Ismayilova/ Azerdemiryolbank, the Azerbaijani bank introduced corrections into the general strategy of the bank and business development strategy on the background of the global financial crisis.

In 2009 bank intends to ensure the fulfillment of such purposes as change in the structure of assets and an increase in the share of high liquidity means, predominantly on the account of Nostro, decrease of the number of short term attractions of commercial nature and an increase in the number of long-term attractions of strategic nature. Azerdemiryolbank also plans to increase the transformation of profit into capital of bank, to change the structure of the portfolio of attractions to the side of an increase in the share of resources, drawn from internal financial market.

[Since 2009 the profit, directed for the capitalization of banks, will be freed from taxation.]

A source from the bank said that the changes would touch the loan policy of bank. The changes into the loan portfolio will be introduced in order to increase the share of micro crediting, as well as credits to small and medium enterprise in cities and rural including those who are occupied in agriculture, corporative clients, which design infrastructural projects by state order and generating operation incomes.

The crediting period and credit lines will be cut to improve the terms of credit risk governance and support liquidity.

Azerdemiryolbank's strategy of institutional development did not undergo any changes and it consists of arrangements for guaranteeing achieves the following goals:

1. a change in the method of control of bank activity and the application of individual strategies;

2. determination of the business architecture of bank (segments, products and channels), conducting extended segmentation, renovation of proposed goods and services and an increase in their value for client, development and t expansion of channels of sales;

3. forming of fixed business o processes and introduction of Business Unit Management;

4. increase of safety factor of the basic business of bank, by increasing the investment attractiveness;

As of the end of the first half-year of 2008 Azerdemiryolbank occupied the eighth place in the value of active memberships in Azerbaijan, having a share approximately into 2.3% of all assets of the banking system of country and 2.9% of deposits of the individuals. Bank was based in 1989 with Azerbaijan state railway. Since 1995 the basic shareholder of bank is the Hajiyev's family (at present it manages about by 46% of shares). Bank's 35% of shares belongs to EBRR and Netherlands Development Finance Company. Since Dec. 2005 EBRR acquired 25% plus one share of bank. Azerdemiryolbank first among the private banks of the country began to obtain international rating since 2004.

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