TODAY.AZ / Business

Unibank and Bankgesellschaft Berlin sign credit agreement

31 March 2006 [16:56] - TODAY.AZ
Bankgesellschaft Berlin credit line allows UniBank to finance projects of different goods exports from EU and USA to Azerbaijan.

Bankgesellschaft Berlin project's crediting will be done via insurance covering provided by the leading Credit Exporting Agency (CEA) in Germany- Hermes, and a number of similar agencies from EU and US, Trend reports.

"This sort of credit would provide UniBank's clients with additional opportunities to finance import operations with the European countries and US. Admittedly, the given project will be the first experience of our Bank in cooperation with the CEA, which serve as insurers of the foreign resources attraction. This is a positive factor for expansion of skills and experiences in the given area," UniBank chairman, Faiq Huseynov, noted.

UniBank is the owner of the largest among private banks in Azerbaijan portfolio of financial resources, attracted from different foreign financial institutions; it also has the largest credit portfolio, according to the 2005 results.


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