Unibank finalized yet another International Programme
The Financial Intermediaries Capacity Building Technical Co-operation Programme aimed at increasing the sustainability of the Bank’s financial system and promoting its local Micro- and SME lending facilities has been concluded with respective closing event held on September 7th. With the great support of the main stakeholders - the European Bank for Reconstruction and Development (EBRD), the European Union (EU) and the Ministry of Treasury and Finance of Turkiye - this programme outputs will pave the way to further strengthening of Unibank and Unicapital resilience and sustainability, and thus stronger support stronger to our clients.
The paid-up charter capital of Unibank exceeded 142 million manats
Unibank has successfully implemented the capitalization process. As a result, the total capital of the bank increased by 12 million manats and reached 142 million 586 thousand 357 manats.
Frontclear closes another currency hedging transaction with Unibank and TCX in Azerbaijan
Frontclear arranged and structured an AZN/USD non-deliverable cross currency swap (NDCCS) transaction with Unibank Commercial Bank OJSC (Unibank). This transaction has made it possible for Unibank to effectively convert their USD liabilities into AZN liabilities, making it possible to provide its clients with local currency financing. The NDCCS transaction is documented under a Master ISDA Agreement. The transaction helped to further clarify certain legal issues related to close-out netting in Azerbaijan, which were mitigated by effective Frontclear deal arranging and structuring.
“We are happy to execute another ISDA derivative transaction in Azerbaijan and further advance the development of Azerbaijan’s money markets. The transaction strengthens global markets players’ ability to access the Azerbaijani market and mitigate legal risks in the country. Our involvement continues to promote best practices such as margining in Azerbaijan.” – Andrei Shinkevich, Senior VP Frontclear
For the attention of all customers!
In connection with the suspension of “Visa” and “Mastercard” payment systems in the Russian market, cards of Azerbaijani banks, as well as Unibank cards, will not work in Russia.