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Kapital Bank II

Azerbaijan | Financial Institutions

Identification Code:: OP/07/0682
Total Operation Cost:: — USD
Maturity:: 77 months
Operation Status:: BSTDB Approved Amount – Approval Date

12.000.000 USD – 04 Apr 2008
: BSTDB Signed Amount – Signed Date

12.000.000 USD – 03 Jun 2008
: Status:
Completed
Description and Purpose of the Operation:: BSTDB provides a Bank to Bank Loan to Kapital Bank. The proceeds of the Loan shall be used by Kapital Bank exclusively for the purpose of providing mortgage sub-loans to eligible local borrowers. The Loan is expected to contribute to the development of mortgage financing and as a result improve the living conditions of the population of Azerbaijan.
Countries of Operation:: Azerbaijan (100,00%)
Financial Product:: Loans
Sector:: Financial Institutions
Domain:: Private
Borrower/Client:: Kapital Bank was established in 2000, through the merger of the three state-owned banks: Savings Bank, Industrial Investment Bank and Agro- Industrial Bank. Being a successor of Savings Bank, it dates his history back to 1874. Kapital Bank is the third largest financial institution in the country with the largest network and staff employed. Its network provides significant infrastructure used in many unique social oriented and population targeted payment projects. Kapital Bank is an existing client of BSTDB since 2006 with a positive credit history and proven track record of prudent and conservative banking practices.
Co-Financers/Participants:: —
Guarantors/Sponsors:: —
Developmental and Regional Cooperation Impact:: The Mortgage credit line multipurpose loan to Kapital Bank will support the Borrower in developing residential mortgage lending program and improving access of the Azerbaijan population to affordable funding to improve their living conditions.
Environmental Classification and Impact:: In its lending activities the Borrower is required to follow the BSTDB and the Republic of Azerbaijan standards and norms with respect to environment, human health and safety.
Operation Leader:: Financial Institutions II
E-mail:: fi2@bstdb.org