Bank Of Baku

AtaBank suspends negotiations on foreign loans due to global financial crisis

AtaBank suspends negotiations on foreign loans due to global financial crisis
# 24 October 2008 15:59 (UTC +04:00)
Baku. Elnur Huseynguluyev – APA-Economics. There is a delay in the Islamic Development Bank’s loan to Azerbaijan-based AtaBank because of global financial crisis, said Museyib Aliyev, Deputy Chairman of the Board.
He added that the bank has suspended negotiations with other international institutions on the borrowing of foreign loans.
He added that AtaBank secured a tentative agreement with IDB for a loan that will go to trade financing.
As of October 1, AtaBank’s assets stood at AZN 134.586 million, loan portfolio at AZN 87.189 million, deposit portfolio at AZN 108.189 million, total capital at AZN 18.815 million and authorized capital at AZN 14.465 million.
AtaBank has been in operation since 1993. It operates 19 branches, 46 ATMs and 267 POS-terminals.
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