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Bank Respublika expands its regional branch network

11 August 2008 09:55 (UTC +04:00)

Baku. Nijat Mustafayev â€“ APA-Economics. Azerbaijan-based Bank Respublika, in an effort to expand its network in the country, opened â€œAstaraâ€ branch situated in Astara, 15A, Azerbaijan Street.
Bank Respublika told APA-Economics that â€œAstaraâ€ branch offers the population, companies and organizations various bank products and services such as cash and settlement services, deposits, MasterCard and VISA plastic cards, express money transfers with the systems, Contact, Migom, Coinstar, PrivatMoney, Bistraya Pochta, Xpress Money, Blizko, Allur and other kinds of services.
At the moment Bank Respublika has 29 branches and service points in Baku, Ganja, Sumgayit, Shirvan, Guba, Khachmaz, Lenkeran, Yevlakh, Barda, Shamkir and Goychay and Goranboy.
Bank Respublika has been in operation since 1992. The Bankâ€™s shareholders include 2 largest financial institutions of Germany: Investment Company DEG, a member of KfW banking group, and Sparkassen International Development Trust, a member of financial group Sparkassen-Finanzgruppe, which have owned a â€œ25%+1 shareâ€ stock of Bank Respublika since April 28, 2005. As of August 1, 2008, the Bankâ€™s total assets stood at AZN 386mln., loan portfolio at AZN 249.5mln, deposit portfolio AZN 151.3mln, total capital AZN 38.1mln. and authorized capital stood at AZN 14.6mln.