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Atra Bank to receive $8 million foreign loan in October

Atra Bank to receive $8 million foreign loan in October

18 September 2008 10:37 (UTC +04:00)

Baku. Elnur Huseynguluyev â€“ APA-Economics. Azerbaijan-based Atra Bank plans to receive an $8 million loan from a foreign financial institution by mid-October, said Elmikhan Nabiyev, Chairman of the Bank.
â€œThis financial institution intends to take an equity stake but we are not going to sell this,â€ he added.
He didnâ€™t refer to the financial institution because of commercial confidentiality but said the loan will go to agribusiness projects.
As of July 1, the bankâ€™s assets stood at AZN 32.192 million, loan portfolio at AZN 23.755 million, deposit portfolio at AZN 4.121 million, total capital at AZN 11.412 million and authorized capital at AZN 10.425 million. Atrabank has been in operation since 1992. The bank has 11 branches, 10 ATMs and 32 POS terminals across the country.

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