Variety of Azerbaijani banks to refinance their loans

Business Materials 13 March 2015 16:32 (UTC +04:00)

Baku, Azerbaijan, Mar.13

By Azad Hasanli - Trend:

The International Bank of Azerbaijan (IBA) and AccessBank plan to refinance the loans drawn in 2014, Global Capital news website said March 13.

In 2014, the IBA has signed loan agreements totaling $160 million. Bookrunners of the loans were Alfa Bank, Citigroup, Commerzbank, ING, JP Morgan and Raiffeisen Bank International, the organizers - BCP, Barclays, BayernLB, Intesa Sanpaolo and LBBW.

Besides the IBA and AccessBank, at least PASHA Bank is also considering refinancing loans, agreements on which were signed last year, Global Capital reported.

However, it is not specified whether these banks are planning to refinance all loans under agreements signed last year or only a part of them.

The International Bank of Azerbaijan (IBA) was founded in January 1992. The IBA is the largest bank in the country. The bank's main shareholder is the Azerbaijani government, which owns a 50.2 percent stake, while 49.8 percent of the shares are owned by private shareholders.

AccessBank was established in 2002 by Black Sea Trade and Development Bank, EBRD, IFC, KfW, a German consulting company LFS Financial Systems GmbH and AccessHolding. AccessBank provides loans to micro and small businesses and has a wide network of branches in Azerbaijan employing more than 2000 people.

PASHA Bank is a leading corporate bank in Azerbaijan. Founded in 2007, the bank renders a wide range of corporate banking services, including the issuance of loans, transactions on the securities market, asset management and treasury services. Around 329 people work in PASHA Bank, represented by its head office and nine business centers.

Edited by CN

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