OREANDA-NEWS. October 20, 2009. Bank Nikoil has confirmed next time reputation of   a bank meeting its commitments before the customers and lenders.

The Bank reports that it completed under schedule repaying an inter-bank loan for 100 million euro received in September 2008 from the Central Bank of Islamic Republic of Iran.

The raised resources were directed for loaning for individuals, small and medium-size businesses, regional farms, and disbursal of Interbank loans to commercial banks of Azerbaijan.

“We assess this credit line as sufficiently efficient and well-timed financial operation, due to which our Bank confirmed another time its reputation of stable loan-borrower despite difficulties appeared during the last year at the global financial market. After repayment of this credit line we soundly expect to raise credit resources for longer terms with better conditions, as the Iranian Central Bank was able to make sure in our reliability as loan borrower and ability to implement the undertaken liabilities,” said Vasily Khamaza, Bank Nikoil’s chairman of board.

He added that work over development of relations with a range of financial institutions of the United Arab Emirates, United States, Germany, and Bahrain is underway and will give the Bank an opportunity in 2010 to give financial support to targeted customer segments – small and medium entrepreneurs, farmers, and workers of budget sector.