OREANDA-NEWS  On 20 February was announced, that customer deposits with Bank Respublika totaled AZN 138,800,000 as of February 1, 2009. Time deposits with Bank Respublika amount to AZN 96,700,000 forming 69.7% of the total deposit portfolio.

Growth of the deposit portfolio was caused by increase in individual time deposits with Bank Respublika. Individual time deposits with Bank Respublika grew by AZN 6,000,000 (9.7%) up to AZN 67,200,000 over the past two months.

The growing volume of deposits indicates at the high confidence of customers in Bank Respublika. A wide range of options offered by the Freedom of Choice of Deposit Terms campaign also encourages a growing flow of deposits in Bank Respublika. The maximum interest rate for AZN and USD deposits  amounts to 16% per annum. There are no limits on the amount of deposit.

Depending on the amount and duration of the deposit, Bank Respublika customers may also receive free MasterCard and VISA cards with an interest-free credit line for up to 45 days, use Home Banking and MobilBank services, enjoy a free access to safe deposit boxes, and obtain travel and medical insurances, as well as lax credits at expense of the Bank.

Bank Respublika regularly holds prize draws among depositors and plans to announce a new deposit prize draw in the next few days.

The Bank is a member of the Deposit Insurance Foundation, which was established under the law on deposit insurance. Deposits placed in Bank Respublika are insured in accordance with the terms and provisions of the Foundation.

Bank Respublika started its operation 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.