Bank Respublika

Last updated
Bank Respublika
Company type Open Joint-Stock Company
Industry Financial services
FoundedMay 22, 1992;33 years ago (1992-05-22)
Headquarters
Baku
,
Azerbaijan
Number of locations
35 branches, 1 service point (Dec 2024)
Area served
 Azerbaijan
Key people
Elchin Guliyev,
Chairman of the Supervisory Board
Products Banking services
Total assets US$1.1 billion (2024)
Number of employees
1,805 (Dec 2024)
RatingSteady2.svg B2 (Moody's, July 2024), Increase2.svg B1 (outlook: positive)
Website www.bankrespublika.az
Footnotes /references
[1]

Bank Respublika is an Azerbaijani private commercial bank established on May 22, 1992 based on the license issued by the Central Bank of Azerbaijan.

Contents

As of 2023, the bank held deposits worth over $700 million (₼1.2 billion) and was the fifth largest bank in Azerbaijan. It was granted systemically important bank status on March 1, 2024. [2] [3] It had a market share of 4.1% in 2024.

History

Bank Respublika was established in May 1992 as a private bank with significant focus on small and medium-sized enterprise (SME) operating in the non-oil and gas sectors in Azerbaijan. [4] It experienced a sharp crunch of the ability to lend during the 2008 financial crisis years, requesting major recapitalization from the shareholders. [4]

On June 1, 2011, the bank's total capital exceeded 53.7 million Azerbaijani manat (₼) (US$31.6 million) and total assets reached ₼294.2 million (US$173.0 million), with the later accounting for 1.9% of the total assets held by banks in Azerbaijan, making it the 10th largest in the country at the time. [4] [5]

Shareholders

The bank is majority owned by the members of the Guliyev family, who solidarily own 75% of the bank. In 2018, the primary shareholder Natig Guliyev increased it's stake to 53.72 percent. [6] The other equity investors in the bank are two Germany's financial institutions: German Investment Corporation (DEG), a member of KfW banking group, and Sparkassen International Development Trust (SIDT), a member of financial group Sparkassen-Finanzgruppe. The relevant agreements to purchase a "25%+1 share" were signed between the parties on April 28, 2005, in Bank Respublika's head office. [7] [8]

Structure of Bank Respublika's shareholders (in 2011): [4]

See also

References

  1. ↑ "Bank Respublika OJSC". FMO. 16 February 2024.
  2. ↑ "Ranking of Azerbaijani banks by deposit portfolio volume". Trend.Az. 2023-10-19. Retrieved 2025-12-06.
  3. ↑ "EBRD, EU and Bank Respublika to support Azerbaijani MSMEs". www.ebrd.com. Retrieved 2025-12-06.
  4. 1 2 3 4 "AZE: Private Banks and Leasing Companies in Azerbaijan–Bank Respublika" (PDF). Asian Development Bank. December 2011. Retrieved 24 June 2025.
  5. ↑ "Bank Respublika". www.bankrespublika.az. Archived from the original on 2018-12-25. Retrieved 2025-12-06.
  6. ↑ "One of Azerbaijan's Bank Respublika shareholders increases stake". Trend.Az. 2018-02-23. Retrieved 2025-12-06.
  7. ↑ "Azerbaijan's banks emerge from the dark". www.thebanker.com. Retrieved 2024-05-27.
  8. ↑ "BankRespublika". www.bankrespublika.az. Archived from the original on 2016-09-15. Retrieved 2025-12-06.
This page is based on this Wikipedia article
Text is available under the CC BY-SA 4.0 license; additional terms may apply.
Images, videos and audio are available under their respective licenses.