25 Nov. 2014
An agreement was signed between Rabitabank OJSC and International Finance Corporation
Rabitabank OJSC signed an agreement with the International Finance Corporation on November 6, 2014 within the framework of the project for improving internal audit and risk monitoring system.
The International Finance Corporation will render technical assistance to Rabitabank OJSC in the above-mentioned issues within the framework of the project.
Rabitabank has been cooperating with the International Finance Corporation (IFC) and Islamic Development Bank (IDB) since 1997, with the European Bank for Reconstruction and Development since 2006 and World Business Capital, USA since 2008.
Rabitabank, established in 1993 is one of the leading banks in Azerbaijan in the field of loan issuance to micro and small businesses. The Bank covers Baku and 16 regions of Azerbaijan with its 22 branches and 2 divisions. Rabitabank opened two more branches in Khirdalan and Masalli cities in 2014.
Currently Rabitabank renders services to the clients consisting of about 50 000 companies and individuals with its more than 450 experienced, skilled and professional staff. Total assets of the Bank were AZN 260 million, loans issued to the clients AZN 199.8 million, deposits AZN 176 million and capital AZN 55 million as of September 30, 2014.