OREANDA-NEWS. On July 26, 2007 new agreement about assignation of syndicated credit to the sum of 24 million USD and credit line for MSE and SME lending to the amount 5 million USD were signed between Bank Respublika and European Bank for Reconstruction and Development (EBRD), reported the press-centre of Bank Respublika.

The signed syndicated loan agreement is one of the biggest contracts in the bank sector’s history in Azerbaijan. Besides of EBRD such banks as Dresdner Bank (Germany), BCP (Switzerland), Raiffeisen Bank (Austria), Erste Bank (Austria), Credit Europe Bank (Netherlands), Indover Bank (Netherlands) and Cordiant Capital (Canada) are also taking part in syndicated credit.

The syndicated financing sets the stage for sustainable future financing for Bank Respublika on the international capital markets. These agreements will help Bank Respublika to expand lending to its customers and also diversify its funding base.

Bank Respublika cooperates with European Bank for Reconstruction and Development since 2004. During this cooperation period EBRD has opened for Bank Respublika 6 credit lines on business lending programs. Bank Respublika is also a partner in the EBRD’s Trade Finance Programme and a co-financing programme.

Bank Respublika was found in 1992 and nowadays is one of the leading banks of Azerbaijan. Among the shareholders of the Bank are presented two big German financial organizations - DEG, member of KfW banking group, and SIDT, member of Sparkassen-Finanzgruppe, which have owned a “25%+1 share” stock of Bank Respublika.

At the present time assets of Bank Respublika make up 175,2 million AZN, credit portfolio - 126,5 million AZN, deposit portfolio - 85,6 million AZN and total capital - 18,3 million AZN.