Turkish banks allocate loans to Azerbaijani bank
Azerbaijan, Baku, Nov. 23 / Trend /
Turkish Bank Asya and Aktif Bank allocated to Azerbaijan's Bank Respublika credit lines for trade funding. As a result of the talks, which were held last week, each of these banks has opened a credit line of $2 million for Bank Respublika.
Bank Respublika said that being an active participant in various programs on trade funding, the bank has repeatedly been recognized by the EBRD the "Most active bank in trade funding in Azerbaijan".
The total amount of trade funding transactions undertaken by the bank in 2009 with Japan, Germany, Switzerland, Italy and other countries, exceeded $20 million.
Bank Respublika started operating in 1992. Among its shareholders are two large German financial institutions DEG and SIDT with a Bank Respublika share package of 25 percent + 1 share. The bank has 34 branches and units in Baku and the regions.