Azerbaijan, Baku, April 28 / Trend I. Khalilova /
By introducing the program "SAP for Banking", market value of the Azerbaijani DemirBank will increase at least 20 million manat, DemirBank chairman Roman Amirjanov said.
In 2009, there was a joint international tender with the European Bank for Reconstruction and Development (EBRD). A company-consultant was chosen. The process of implementing the software was launched.
"We implement this program in the banking sector first in our country. It will increase the additional capitalization of the bank. At present, the first phase of the program is under completion. But we are interested in full accelerating of this process, Amirjanov said.
He said that the EBRD agreed to finance a part of a new banking program SAP introduced in DemirBank. The program is estimated at 3.5 million euros. The EBRD is ready for allocating 0,750 million euros, Dutch Development Finance Company FMO - 0.5 million euros.
In 2010 DemirBank plans to strengthen its activity. The Bank will pay great attention to institutional development, development of corporate governance, work in technical support to improve risk management and other areas.
One of the first banks in the country DemirBank began its activity in 1989. Shareholders are major international financial institutions such as EBRD and FMO.