Baku, Fineko/abc.az.  DemirBank considers the past year one of the most remarkable in its history. In particular, in 2009 the Bank changed its name, marked its 20th anniversary, improved institutional development and financial performance.

The Bank says that in October 2009 its previous name was replaced with new one - Azerdemiryolbank was renamed into DemirBank.

New name DemirBank is successive that ensures keeping of Bank’s 20-year history and achievements.

In connection with its new name DemirBank developed a new logotype and conducted TV advertising campaign on re-branding and 20th anniversary.

Development of brand-book is under completion and work on introduction of new corporate style has been launched.

On 6 October 2009, DemirBank marked its 20th anniversary. The Bank conducted different campaign on the occasion, including prize campaign Yubiley among depositors with key prize - automobile Toyota RAV4.

Following 2009, DemirBank’s financial performance increased as well.

As of 1 January 2010, its reached AZN 266 million with rise of 16.4%, loan portfolio increased by 18% up to AZN 199 million, charter capital totaled AZN 18.4 million, while overall capital AZN 46.5 million.

Overall amount of customer deposits in DemirBank totaled AZN 95.2 million with growth of 45.7%.

Population’s deposits reached AZN 70.8 million with an increase of 70%.

This is another indicator of Bank’s successful operation, confidence of its customers and success of program “Range of Deposits” and prize campaign Yubiley.

Last year DemirBank was granted rating “B+” with forecast “Positive” from Planet Rating.

DemirBank was rated at the level of “B” on such categories as corporate governance, risk management, efficiency and profitability, business and information and at the level of “A” on category of financing and liquidity for the first time in Azerbaijan.

International rating agency Fitch Ratings confirmed anew DemirBank’s rating “B-” with forecast “Stable” that is also an indicator of Bank’s successful activity.

In 2009 the Bank signed new loan agreements with international financial institutions and raised finances for $53 million.

DemirBank co-operates on programs of crediting and trade financing with such IFIs as the European Bank for Reconstruction & Development (EBRD), International Finance Corporation (IFC), Netherlands Development Finance Company (FMO), German Investment & Development Company (DEG), Black Sea Trade & Development Bank (BSTDB), German–Azerbaijan Fund (GAF), OPEC Fund for International Development (OFID), Islamic Corporation for the Development of the Private Sector (ICD), fund Rosemount Global (US), BANIF (Portugal), investment fund SIFEM (Switzerland), ING BANK (Netherlands), etc.

Last year DemirBank offered for its customers new banking products and programs – Children’s Deposit, Free Plastic Card of Students Abroad, furniture loans Embawood, Internet Banking service, operations with UK’s pound of sterling. Within the framework of state program DemirBank resumed disbursal of mortgage loans to the population from the Azerbaijan Mortgage Fund’s finances.

Last year the Bank prepared new tariffs with coverage of all its services. The fresh tariffs are more competitive and aim for full meeting of customer needs. Jointly with company SilverKey Azerbaijan, DemirBank also expanded opportunities for payment of services on E-Commerce project.

In early 2009 DemirBank opened new branches – Khazar and Yasamal. It also expanded cash machine network in Baku and regions of the country. For the purpose of optimization of customer service network some branches and cash machines were moved to new addresses. Following 2009 DemirBank has numbered 29 branches and 47 cash machines.

In 2009, DemirBank continued activity on Institutional Development & Introduction of Corporate Governance Standards. On the basis of Strategy Plan 2008-10 the Bank carried out works on development of operations environment, system of risk management and internal audit and other directions. In connection with introduction of program SAP for Banking, DemirBank jointly with the EBRD held an international tender procedure and after choice of the consulting company started the process of software introduction.

Last year DemirBank was given Honorary Certificate from payment system VISA International for “Issue of 50,000th Card” of this system and Honorary Diploma at the ceremony on the occasion of 5th anniversary of State Program of Socio-Economic Development of Regions in nomination “Money-Credit & Banking Services”.

In 2010, DemirBank is planning to activate its work and focus on institutional development, corporate governance, work within programs of technical support on improvement of risk management system and other directions.

DemirBank will also carry out work on introduction of customer service, raising customer service quality, branch network development, introduction of new corporate style in branches and staff potential strengthening.

During this year the Bank will continue work on introduction of software SAP for Banking and other activity directions.

One of the first banks of Azerbaijan, DemirBank (formerly called Azerdemiryolbank) started its operations in 1989. Among the Bank’s shareholders are such large international financial institutions as European Bank for Reconstruction and Development (EBRD) and Netherlands Development Finance Company (FMO).

02.02.2010 10:32