OREANDA-NEWS. February 10, 2009. The European Bank for Reconstruction and Development has named Bank Respublika the most active trade financing bank in Azerbaijan in 2008, reported the press-centre of Bank Respublika.

The awarding ceremony took place as part of the international trade financing conference in London. Bank Respublika is Azerbaijan’s only bank to receive the high EBRD award by the results of 2008.

Launched by the European Bank for Reconstruction and Development in July of 1999, the International Trade Facilitation Programme has been a growing success. The programme is aimed at facilitation of international trade and covers a wide range of trade financing services.

The programme now has 115 client banks from 19 countries worldwide. These banks were selected by EBRD based n financial position, corporate management, development of trade financing services and other factors. The guarantees and letters of credits of the programme’s client banks are approved by over 650 high-profile banks around the globe.

Bank Respublika joined the programme in 2003 and made significant achievements ever since. The total volume of Bank Respublika's transactions within trade financing programmes increased by 40% up to USD 37.7 million in 2008 alone.

Bank Respublika started its operations in 1992 and is now one of the leading banks of Azerbaijan. The Bank's shareholders include 2 of Germany's largest financial organizations – DEG, a member of the KfW banking group, and SIDT, a member of Sparkassen-Finanzgruppe, which hold a package of 25% + 1 share in the bank.

Bank Respublika has a B2 long-term rating of national and foreign currency deposits with "stable" forecast from the international agency Moody's Investors Service.