BSTDB, Unibank sign loan agreement

The Black Sea Trade and Development Bank (BSTDB) and Azerbaijani Unibank signed an agreement to open a $5 million credit line to support small and medium business development.

"We are very glad to cooperate with Unibank in support of small and medium-sized businesses," vice president of BSTDB Mustafa Boren said at the signing ceremony.

It is the second credit line released to Unibank by BSTDB for the development of small and medium businesses. The first loan in the amount of $5 million manat was granted in 2008. BSTDB also allocated $3 million for the development of trade financing.

"Financing of small and medium businesses is one of the main activities of our bank, and this agreement will contribute to creation of working places in this area," the Chairman of the Board of Unibank Faig Huseynov said.

Unibank was established in October 15, 2002 as a result of the merger of two private commercial banks in Azerbaijan, Mbank and Promteshbank. Unibank is a universal financial and credit institution rendering retail and corporate services.


/Trend/