Finance

Finance

Rabitabank marks 20th anniversary

02 July 2013 07:44 (UTC +04:00)

Baku. Vahab Rzayev - APA-Economics. On June 30, Rabitabank celebrated 20^th anniversary, APA-Economics reports.

Rabitabank clients are private entrepreneurs and the companies engaged in agriculture, transport, trade, communications, manufacturing, as well as the country's population.

In its anniversary year Rabitabank has entered a new stage of development. The bank currently operates in Baku and 15 regions of Azerbaijan through 20 branches and 2 offices. In 2013, Rabitabank opened two more branches in Narimanov district of Baku, as well as in Aghsu city. Currently, Rabitabank employs more than 450 skilled and qualified professionals who serve about 50,000 clients, consisting of companies and individuals.

As of June 1, bank's assets grew by 33% to AZN 209 mln compared to previous year. Loans increased by 31% to AZN 148 mln, deposits - by 57% to AZN 137 mln, capital jumped 32% to AZN 45 mln. The purpose of the bank for the second half of 2013 - to increase the capital to more than AZN 55 million and increase profitability and growth of the bank.

The cooperation with the International Finance Corporation (IFC) that started in 1997 is being continued with the Islamic Corporation for Development (ICD) and the European Bank for Reconstruction and Development (EBRD). In addition, the bank has established relationships with investment funds and major banks of the United States and Europe.