15 July 2014
Rabitabank celebrates its 21st anniversary
Rabitabank celebrates its 21st anniversary on 30th June. Rabitabank, established in 1993 is one of the leading banks in issuance of loans to micro and small businesses. Clients of the bank are companies representing manufacture, construction, agriculture, transport, trade, communication and other sectors, private entrepreneurs and population of the country, as well.
Rabitabank entered into a new stage of its development in the anniversary year. The bank involves Baku and 16 region of Azerbaijan with 22 branches and 2 divisions. Rabitabank opened 2 other branches in Narimanov district, Baku and Aghsu in 2013.
Rabitabank currently employs more than 450 skilled and qualified professional staff who renders services to about 50 000 clients consisting of companies and individuals.
Total assets of the bank increased 12% and reached to AZN 282 million, loans issued to clients increased 16% and reached to AZN 188 million, deposits increased 17% and reached to AZN 203 million and capital increased 2% and reached to AZN 54 million as of May 31, 2014 in comparison with the beginning of the year. The bank targeted to increase the capital more than AZN 55 million and improve balance and profit indicators in the second half of 2014.
Successful cooperation with the international financial structures is obvious example of transparency and compliance with the international standards of Rabitabank. Cooperation started with the International Finance Cooperation (IFC) since 1997 is currently continued with the Islamic Development Bank (IDB) and European Bank for Reconstruction and Development (EBRD). In addition to the international financial funds, Rabitabank also cooperates with the investment funds and big banks of the USA and Europe for involving additional funds. Rabitabank was included in the list of 5 the most transparent banks of Azerbaijan by the Standard and Poor’s rating agency in 2010 as a result of successful cooperation with the international financial institutions. Main targets before the shareholders, management and all staff of Rabitabank is to further expand branch network of the bank, improve and increase range of services rendered to the clients, strengthen relations with the international partners and further contribute to development of Azerbaijani economy.