Azerbaijani bank prepares to enter global capital markets
Azerbaijan, Bank, March 16 /Trend A.Hasanov/
The Azerbaijani Parabank is considering entering global financial markets, PR specialist Gunay Shahbazova told Trend.
"The formation of an active subject of international financial market is considered for the next strategic period" Shahbazova said. "Thus, one of the goals is attraction of cheaper and longer-term resources and better meet customer demand for financial resources."
As a bank focused on supporting small and medium-sized businesses, Parabank pays special attention to this segment of the business and is constantly improving lending procedures. A portfolio of foreign liabilities of the bank amounted to 1.66 million manat at present.
The opening of representative offices or branches abroad in the future is also being considered, she added.
"Parabank is an active member of the local market at the moment, and one of the main objectives is the recognition and the formation of the bank as a worthy competitor in the financial market of the country" Shahbazova said "Today, 70 percent of the loan portfolio accounts for retail."
Parabank is also expanding its activities in the market of plastic cards. The number of active cards in the bank is 6725, but the bank plans to increase that number to 10,000 in 2012.