Rabitabank and Unibank have decided to jointly issue syndicated loans. In this regard, a “Protocol of Intent” was signed between the bank managers, which envisages the issuance of joint syndicated loans.

A syndicated loan is usually a loan allocated to business clients by two or more banks. As a result of such cooperation, both banks will be able to meet the needs of their business clients on a wider scale. This will create opportunities for clients to implement larger and longer-term development plans. Another purpose of such loans is to share the risks associated with large amounts of loan funds between the participating banks. Today, there is a great need for syndicated loans in the market to meet the demand of business owners for large-scale loans. In this regard, the cooperation initiated in this direction between Unibank and Rabitabank will be very beneficial for both business owners and in terms of increasing activity in the banking sector.

Faig Huseynov, Chairman of the Board of Directors of Unibank KB OJSC, highly appreciated this cooperation: “It is very pleasant to be among the first banks to experiment with the use of this credit product, which is widely used in the world banking market, in our country. This cooperation will allow us to jointly finance larger business projects and meet the demand for large amounts of money needed by businesses. I believe that the support of large business projects by two banks with extensive experience in independent Azerbaijani banking - Unibank and Rabitabank - will create new trends in the banking sector.

Elchin Gadimov, Chairman of the Board of Directors of Rabitabank OJSC, also believes that syndicated loans, which allow for the distribution of risks between partner banks when allocating large amounts of loans, will be another contribution to the development of large businesses in our country: “This cooperation between two banks of Azerbaijan with rich banking traditions will make large-scale financial resources more accessible to businesses. Syndicated loans, in addition to increasing the opportunities for entrepreneurs to implement larger-scale projects, will also support overall economic development and employment growth.”