UniBank
UniBank has earned its reputation as an innovator in the local banking sector by setting new benchmarks. The bank has undergone rapid growth to become one of the biggest players in Azerbaijan’s financial service market.
It was the first and still the only Azeri bank to have signed an equity participation agreement with an international finance institution. The European Bank for Reconstruction and Development (EBRD) is now a 20% shareholder in UniBank.
“The next step in our success story was that UniBank received the first ever syndicated loan among all the private Azeri commercial banks, in April this year,” says chairman Faig Huseynov. “The loan was arranged by the EBRD. The dynamic development of UniBank has been manifested through a significant increase in all key financial ratios. The asset and credit portfolio of the bank has doubled, while customer deposits have more than trebled and net profits have grown 2.4 times. This impressive growth resulted in UniBank’s becoming one of the top three biggest commercial banks in Azerbaijan.”
As a result of UniBank’s history of stable development, it has been able to develop co-operation agreements with leading international financial institutions such as the EBRD, International Finance Corporation (IFC) and a number of top commercial banks.
