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Rabitabank completes distribution of a WBC loan

Rabitabank completes distribution of a WBC loan

17 September 2008 15:53 (UTC +04:00)

Baku. Nijat Mustafayev â€“ APA-Economics. Azerbaijan-based Rabitabank has completed distribution of a $5 million from World Business Capital Inc.
The bank said the loan went to refinancing of small and medium-sized businesses for 10 years. The credit line was approved by Oversees Private Investment Corporation â€“ OPIC).
Rabitabank directed 45% of its loan portfolio to small and medium-sized businesses.
The bankâ€™s liabilities to foreign financial institutions reached $20 million. It borrowed loans from IFC, EBRD and ICD too.
As at July 1, the bankâ€™s assets stood at AZN 98.649 million, loan portfolio at AZN 73.431 million, deposit portfolio at AZN 82.373 million, total capital at AZN 11.838 million and authorized capital at AZN 8.003 million.
Rabitabank has been in operation since 1993.

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