Parabank JSC has been making huge steps in the bank market of Azerbaijan for 17 years. The bank with wide branch network and a team of corporative businessmen always welcomes investment projects and cooperation with international financial institutions.
Our goal is to extend classic bank services and to pave the way for the development of small and middle sized entrepreneurship.
During 17 years of banking activity we signed number of successes and achievements; in 2006 our assets increased by 40.44 percent in comparison with 2005, in 2007 it increased by 56.63 percent in comparison with the previous year. In 2006 we managed 23.6 percent, in 2007 40.42 percent increased in credit portfolio. In this crucial period 45.61 percent of credit portfolio was commerce and services, 48.96 percent was physical persons, and 5.43 percent was different sectors of industry. Our bank has built its credit policy mainly in this direction.
In 2005-2007 our bank realized its largest project. The bank provided 500 domestic post offices the connection to "Western Union" and "Contact" International payment systems. The turnover through these systems has risen from USD 100.000 to USD 1.000.000.
In 2005-2007 the bank registered and placed subordinated stocks worth USD 3.760.000 and ordinary stocks worth AZN 6.500.000.
Our bank which has wide branch network in the regions continues crediting residents of the regions and middle-sized entrepreneurship taking it as its primary development strategy.
We, the bank always open to financial institutions, since 2003 have received EUR 1.900.000 from German-Azerbaijan Foundation to direct to the development of small and middle-sized entrepreneurship.
Currently, we have cooperation with Commerzbank, Black Sea and Trade Development and European Bank for Reconstruction and Development. Since 2008 with the support of GAF and EBRD it is planned to build new credit lines for the development of small and middle-sized entrepreneurship.
Our bank in its business philosophy/vision relies on credibility, security, honesty, transparency, independence, high quality service, value for client, a team of corporative minded businessmen, serving Azerbaijani economy, and respect and obey for laws.
Our bank takes all these values in its business and institutional strategy as well as in its daily activity.
Parabank is high professionalism, which has a sustainable team in which every staff feels himself/herself as a businessman.
Parabank with its team of corporative minded businessmen is a guarantee of satisfaction of clients and investors.
If we have a glance at financial indicators and results of the previous years we become witness that in comparison with previous years we have stepped forward significantly. In comparison with 2006 credit portfolio rose 23.5 percent, in comparison with 2005 it increased by 48.26 percent. In comparison with 2006 deposit portfolio increased by 62.21 percent, in comparison with 2005 it increased by 153.44 percent. The reason of boosting deposit portfolio was attractive interest rates which our bank has offered in the domestic market. In 2005 and 2006 it was first time when our bank had made emission of subordinated stocks. During the very important previous period our bank has raised the assets to the required level which National Bank determined. In comparison with the previous years our bank doubled its assets. In this period the portion of non-interest income in the overall income reached 22.23 percent.
