Pakistani Bank Prepared to Finance SOCAR’s Project

Oil&Gas Materials 25 August 2008 14:38 (UTC +04:00)

Azerbaijan, Baku, 25 August / Trend corr. I.Khalilova /The Baku branch of the National Bank of Pakistan (NBP Bank) has launched negotiations with the State Oil Company of Azerbaijan (SOCAR) to finance company's projects, Sohail Ahmad, General Manager of the bank, said.

"Financing is expected to be implemented by bank's head office, and we will operate and find possible investing," Ahmad said.

NBP Bank has initiated to invest into SOCAR and Turkish Tekfen Holding joint projects. Ahmad refused to make details.

"The negotiations are going on. Therefore, it is too early to speak about the sum of investment. However, have already informed Kazakhstan based office of the sum,' Ahmad said.

National Bank of Pakistan was established with 75% share of Pakistan in 1949. At present, NBP Bank owns 17 foreign branches. Bank's assets touch $12,408mln and $3,431mln investments have been implemented. NBP Bank has ААА credit rate with stable forecast.

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