Bank Respublika receives a $12.5 million from DEG Corporation

Bank Respublika receives a $12.5 million from DEG Corporation
# 28 November 2008 14:23 (UTC +04:00)
Baku. Elnur Huseynguluyev – APA-Economics. Azerbaijan’s Bank Respublika signed a loan agreement to receive $12.5 million from German Investment and Development Corporation (DEG).
The bank said the 8-year loan will go to mortgage lending in the country.
Bank Respublika has been in operation since 1992. DEG Investment Corporation and Sparkassen International Development Trust hold a 25%+1 joint stake.
As at October 1, its assets stood at AZN 405.1 million, loan portfolio at AZN 279.3 million, deposit portfolio at AZN 147.4 million, total capital at AZN 43.7 million and authorized capital stood at AZN 22.6 million.
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