OREANDA-NEWS. On December 01, 2007 Bank Respublika has received a national business award, Company of the Year in the Bank of the Year category, for its successful operations in 2007, reported the press-centre of Bank Respublika.

Over its more than 15 years of operation, Bank Respublika has become one of Azerbaijan’s leading banks. Its shareholders include 2 of Germany’s largest financial institutions; DEG, a member of the KfW banking group and SIDT, a member of Sparkassen-Finanzgruppe, both of which hold 25% + 1 share of the Bank. Bank Respublika now has an international rating of B2 and has been assigned a positive forecast by Moody's Investors Service.

In 2007, Bank Respublika received a syndicated credit of USD 24 million from the European Bank for Reconstruction and Development. In addition, EBRD Senior Partner status was awarded to Bank Respublika for the results of the Azerbaijan Multi Bank Framework Financing Facility Project for micro- and small-sized enterprises (AMBF-MSE). The year has also seen Bank Respublika extending its cooperation with other international financing organizations.

The Bank launched a number of new products and services in 2007, and broadened its service network to 24 offices throughout Azerbaijan. As at November 1st 2007, Bank Respublika’s total assets reached 227,7 million AZN. The Bank of the Year award is further evidence that Bank Respublika stands at the forefront of the national banking sector.