JSC VTB Bank (Azerbaijan) introduced in the market a new product - a loan at a bank guarantee for legal entities and individual entrepreneurs, according to the statement.
The press release stressed that pledge for this product is not required. The period, the interest rate and the commission are defined on the principle of individual approach to each client.
According to a member of the bank’s Board, Zaur Rasulov, the product provides enterprise customers ample opportunity to borrow funds to purchase real estate or construction, production activities, as well as trade finance under the bank guarantee. This product may also be used by foreign companies under the laws of Azerbaijan. Thus, the new product can be a good startup for beginner foreign companies in the local market and will attract investments into the country.
Central Bank of Azerbaijan in March 2009 issued JSC VTB Bank (Azerbaijan) a banking license.
In the structure of the bank's shareholders 51 % of the shares belong to JSC VTB Bank, 48.99% - to the group of companies AtaHolding, and 0.01% - to an individual. - 17D-
Economics
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