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Amrahbank attracts two new foreign loans for trade funding

03 July 2009 11:30 (UTC +04:00)

Baku. Elnur Huseynguliyev â€“ APA-Economics. Azerbaijanâ€™s Amrahbank Joint-Stock Commercial Bank will attract $5 million of loans from US EximBank until late 2009.

Chairman of the bankâ€™s Board of Governors Emil Mammadov told APA-Economics the sides have already signed a loan agreement.

Mammadov said the bank also intended to receive $1 million of loan from the International Islamic Trade and Finance Corporation this year.

The bank official said both loans would be spent to trade funding in Azerbaijan.

Amrahbank was founded by five local physical entities (51%) and Bahrain International Investment Bank (49%) in 1993. The bank has 23 branches, 12 ATMs and 45 POS-terminals.

The bank assets reached 61, 442 mln AZN, deposit portfolio 31, 142 mln AZN, loan portfolio 39, 552 mln AZN, total capital 22, 552 mln AZN, including nominal capital 12, 821 mln AZN to April 1, 2009.