BSBTD, Kapitalbank, Texnikabank and Azerdemiryolbank signed credit agreement

Business Materials 12 June 2006 19:32 (UTC +04:00)

The Black Sea Bank for Trade and Development (BSBTD) decided to open four credit lines amounting to $10m in Azerbaijan banks, Trend reports with reference to the president of BSBTD Hayrettin Kaplan.

Today there was signed an agreements with three banks Kapitalbank, Texnikabank and Azerdemiryolbank for the presentation of $8m credit in Baku.

Kapitalbank was disbursed credit in amount of $4m, with interest LIBOR + 3%. В"АзердемирйоР"банкВ" received $2m, with the same credit interest. And Texnikabank received $2m, with the interest LIBOR +2,55. The credits were allocated for a year with the right of prolongation.

According to the president of BSBTD, the credit agreement on disbursement of $2m to bank Respublika will be signed one of these days because several documents should be prepared.

For the three banks - Kapitalbank, Texnikabank and Azerdemiryolbank it is intended to finance different projects, as well as physical persons.

According to Rauf Rzayev, department chief of Kapitalbank, the issue of using the credit resources for small services still remains open. According to him the bank will give credits to small and medium enterprises by keeping the margin in 5%.