The Black Sea Trade and Development Bank (BSTDB) has selected Commercial Bank Respublika as a financial intermediary to deliver its trade finance products in Azerbaijan.

BSTDB will make available up to € 2.3mn revolving trade finance facility to Bank Respublika to advance short-term sub-loans to companies in Azerbaijan importing goods from other BSTDB member-countries or exporting goods to other countries.

Bank Respublika is a private bank established in 1992. In 2005 DEG (KfW Group) and SIDT (International Development Trust) of Germany joined the shareholding structure of the bank with 25% stake.

Ranked eighth in Azerbaijan in terms of assets, Bank Respublika operates through a growing network of its branches in Azerbaijan mainly providing loans to individuals and commercial customers, with trade financing accounting for a major part of its activities.

The bank has good experience and ambitious targets in servicing international trade including that among Black Sea Economic Cooperation (BSEC) countries. Bank Respublika has also worked successfully with the EBRD.