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OFID extends a $9.5 million loan to AGBank

OFID extends a $9.5 million loan to AGBank

28 July 2009 16:07 (UTC +04:00)

Baku. Nijat Mustafayev â€“ APA-Economics. Azerbaijanâ€™s AGBank has received a $9.5 million loan from OFID (the OPEC Fund for International Development).

Of this, $5 million will go on-lending to small and medium-sized businesses and $4.5 million will go to trade financing.

The loan has a maturity date of 5 years.

AGBank has been in operation since 1992.

As of April 1, assets stood at AZN 204.767 million, deposit portfolio at AZN 105.042 million, loan book at AZN 155.144 million, total equity capital at AZN 31.386 million and authorized capital stock at AZN 15 million.

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