Unibank Receives Subordinate Credit For Second Time
Azerbaijan, Baku / Trend corr. U.Ismaylova / Unibank signed an agreement to receive the second subordinate credit. The German Deutsche Bank AG allocated $6.9mln subordinate credit to Unibank for a 7-year term.
Faik Huseynov, Chairman of Unibank Department, has stated that through the credit, the bank will finance average and small enterprises, as well as allocate micro credits. After receiving the capital from Deutsche Bank AG, the statutory capital of Unibank comprised AZN 45.9mln.
The first time Unibank received subordinate capital was in 2006 when it became the first bank in the country to receive such finance. The Netherlands Development Finance Company (FMO) then allocated credits. The volume of financing made up $5mln for a 7-year term.