Bank Respublika Supervisory Board chair: Large financial organizations have returned to Azerbaijani market because of Bank Respublika


January 29, Fineko/abc.az. Last year Bank Respublika continued developing dynamically, showing significant growth in all areas, once again proving the stability of the chosen business model aimed at serving the real sector of the economy.

The Bank was able to achieve high results due to continuous improvement of products and services, improving the quality of customer service, and creating and developing new digital solutions. In 2019 we significantly expanded the Bank's customer base and increased the loan portfolio, especially in such segments as micro, small and medium-sized businesses.

ABC.AZ reports that the statement was made by Shakir Ragimov, the chairman of the Bank Respublika Supervisory Board.

According to Ragimov, high financial results were also noted by international financial institutions. After a long pause, three large financial organizations (FMO, IFC and EBRD) entered into loan agreements with Bank Respublika and returned to the Azerbaijani market. At the same time, rating agency Moodys, upgraded the rating of Bank Respublika up to ‘B3’ with forecast ‘Positive’.

"I’d like to thank our team, all our clients and partners for their cooperation and contribution to achieving this result! With our work, high quality of service and interesting offers, we’ll continue to justify our trust in the future, continuing our dynamic development," Ragimov emphasized.