Azerbaijan, Baku, 5 June / Trend / Azerbaijan's Bank Respublika and international investment Standard Bank Plc. ( London) stroke a deal on syndicated credit of $25mln.
According to Bank Respublika, the credit agreement was concluded for 18 months. Besides Standard Bank Plc., syndicated credit involved Erste Bank ( Austria), Dresdner Bank AG ( Germany), AKA ( Germany), Indover Bank ( Netherlands), Demir-Halk Bank ( Netherlands), Wachovia Bank (USA), BCP ( Switzerland) and FBN Bank Ltd (UK).
Initially syndicated credit was stated to comprise only $15mln, but then was increased to $25mln.
Bank Respublika believes that the next syndicated credit shows its successful operation in the international capital markets and proves a high trust of the international fiscal organizations in the bank. "The agreement enhances crediting opportunities and increases diversification of the bank' resource basis," Bank Respublka reported.
Bank Respublika has been operating since 22 May 1992, and is one of the leading banks in Azerbaijan.