Dear Ladies and Gentlemen,
I am profoundly honored to present Parabank OJSC to your attention - the Bank which is considered one of the oldest Banks in our country.
The Year 2008- 2009 has witnessed an unprecedented global financial crisis, which had affected both the developed and developing economies of the world. While the year 2008 began and developed very positive for us - we opened number of new branches, hired additional staff, but general situation of economy led to the increase in NPL's. Although this obstacles, we continued our lending activities towards the entrepreneurs and developed number of new products for both Micro and SME's and some retail projects.
Bank strives to be the preferred choice of its customers for banking services in the Azeri market. During the years of existence we have made a lot of important steps in order to meet our clients' expectations in an increasingly competitive environment.
In respect of Parabank's main focus it should be mentioned that we have historically chosen Micro, Small and Medium Enterprises financing. Our lending activity is mainly supported by quite strong local deposit base which is increasing with high rates. Our 8 branches of total 17 are regional branches which help us to further develop Micro and SME finance in regions. We provide unsecured group loans to farmers in poor regions of country and also to teachers, medical staff and etc. with low income, Micro and SME loans to traders, manufacturers and other enterprises, Lombard loans, Educational loans, Car loans, secured loans for consumer needs and etc.
We realize that in order to support the sustainable growth of the bank and to be more competitive in terms of pricing of financed projects we should attract investments and technical support from abroad. Therefore, we are paying our closest attention to the development of relations and cooperation with international partners and now we are in process of negotiations with world's leading DFI's and other Investment funds. We are one of the first banks which cooperate with German Azerbaijan Fund (established by KfW). We are also a member of Azerbaijan Microfinance Association and having active negotiations with number of Microfinance donors to enhance our microfinance activities.
We welcome any investment proposal you may have and keen to cooperate,
Yours faithfully,
Vali Guliyev
