Azerbaijan, Baku, Feb. 10/ Trend /
Assets of Azerbaijani Bank Respublika increased by 53.2 percent and totaled 387.9 million manat in 2008, the bank said.
Loan portfolio of the bank increased by 63.4 percent and reached 260.4 million manat.
Clients' deposits to Bank Respublika increased by 24.3 million manat - to 135.8 million manat in 2008. Amount of urgent deposits in the bank for accounting period increased by 11.8 million manat and totaled 64.2 million manat. It proves clients' high trust.
On Jan. 1, 2009, the number of Bank Respublika's operating plastic cards exceeded 35,500 units, which by one and half times more than early 2008. Amount of people's urgent money transfer in 2008 also increased by exceeding $180 million.
One of the priorities of 2008 was further increase of the bank's capitalization. Total capital of Bank Respublika reached 43.3 million manat in 2008. The banks' authorized capital increased by 10 million manat and reached 22.6 million manat.
Bank Respublika's incomes totaled 59.1 million manat, while expenditures - 46.9 million manat in 2008. Profit after tax payment totaled 9.4 million manat in this period.
In 2008 Bank Respublika expanded cooperation with international organizations, including Austrian Raiffeisen Zentralbank Oesterreich AG at $50 million, Standard Bank Plc. (London) - $25 million, German DEG investment company - $12.5 million, and EBRD - $10 million. The last two agreement which were signed during the economic crisis testify leading international organizations' trust in Bank Respublika.
The European Bank for Reconstruction and Development (EBRD) conferred premium "The most active bank on trade financing in Azerbaijan" on Bank Respublika for 2008.
Bank Respublika has long-term rate of deposits in national and foreign currency at level of B2 with forecast 'stable' from Moody's Investors Service international agency.
Pursuing innovation strategy, in 2008 Bank Respublika offered to clients new products - İlk Kart plastic cards for persons under 7-17 age in Azerbaijan for the first time, as well as VirtualCard for Internet payments, co-brand SubaruCard; VISA Business and VISA Business Gold cards for corporate clients, MobilBank service and sale of gold bullion through loans. Furthermorem the bank offered a discount program for its card owners which envisaged discounts for goods and services at the Azerbaijani trade-service companies.
Bank Respublika held lottery campaigns amongst clients on Travel to Malta, Travel to European Football Championship, Travel to Disneyland, as well as lottery campaigns amongst depositors, whose prizes were gold bullion and Honda Accord brand of car.
Bank Respublika expanded client service network to 32 branches and departments, by opening 8 new offices in 2008.
Bank Respublika, which has functioned since 1992, is one of key banks of Azerbaijan. Two German large financial organizations - DEG, member of KfW bank group and SIDT, member of Sparkassen-Finanzgruppe with stock package comprised of 25percent + one share.
2008 was successful for Bank Respublika which intends to develop and achieve further expanding of activity in 2009.
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