GENERAL İNFORMATİON
Bank establishment and name
DemirBank having already 21 summer history and a wide experience is one of leading banks of the country. The bank has been created as the first commercial bank in the country on October, 6th 1989. Known as Azerdemiryolbank it successfully functioned and has reached many heights. Since October, 16th of 2009 year the Bank will continue the activity as DemirBank.
Bank assets and capital
DemirBank with assets worth 295.4 mln. AZN (367.5 mln. USD)as of July 1, 2010 is among the top ten private banks of Azerbaijan. The charter capital of the bank as of July 1, 2010 constituted 19 mln. AZN (23.5 mln. USD) and its total regulatory capital equaled 47.9 mln. AZN (59.6 mln. USD)
International shareholders
The shareholders of DemirBank include European Bank for Reconstruction and Development (EBRD) with “25% + 1 share” since 2005 and Netherlands Development Finance Company (FMO) with 10% share since 2007. These international financial institutions with total of “35% + 1 share” are represented in the bank’s Supervisory Board and participate in strategic decision making. The presence of international shareholders is the evidence of reliability of DemirBank and creates new opportunities for its future development.
International rating
DemirBank started cooperating with international rating agency Fitch Ratings in 2004 and became the first private bank in the country that received international rating. DemirBank has “B-” rating with “stable” forecast of Fitch Rating and “B+” rating with “positive” forecast of Planet Ratings. These ratings are one of the best in Azerbaijan banking sector and their forecasts are indicators of the bank’s successful development.
Wide spectrum of banking services
DemirBank offers its customers a wide spectrum of banking services – cash calculating services, attracting deposits, issuing various business, consumer and mortgage credits, opening of credits and issuance of bank guarantees, leasing services, clearing services, plastic card issuance, express money orders, cashing of checks, rental of safe cells, distance services Internet-banking, SMS-banking, Telephone-banking, etc.
Service infrastructure
DemirBank has one of the widest branch networks that include 29 branches, 13 of which are in Baku and 16 in other cities – Ganja, Sumgayit, Sheki, Zagatala, Evlakh, Barda, Gazakh, Guba, Gusar, Goychay, Agdash, Shamakhi, Lenkoran, Masalli, Sabirabad and Imishli. The bank has also a network of 45 ATMs in the capital and regions.
Cooperation on crediting and trade financing programs
DemirBank actively cooperates on crediting and trade financing programs with international financial institutions, such as European Bank for Reconstruction and Development, International Finance Corporation, Netherlands Development Finance Company (FMO), Black Sea Trade and Development Bank, German-Azerbaijan Fund, German Investment Company DEG, International Development Fund OFID, Islamic Corporation, etc. The Bank also cooperates with National Fund for Support of Entrepreneurship and Azerbaijan Mortgage Fund.
Deposit insurance
DemirBank is the member of Azerbaijan Deposit Insurance Fund that guarantees the insurance of deposits in DemirBank in compliance with “Deposit Insurance Law”.
International payment systems and correspondent relations
DemirBank is the member of international payment systems MasterCard International and VISA International, as well as interbank payment system S.W.I.F.T. DemirBank has established broad correspondent relations with leading local and foreign banks from Europe, USA and CIS.
Express money transfers
DemirBank is connected to Western Union, Coinstar, Bistraya Pochta and Zolotaya Korona international money transfer systems that allows money transfers on favorable rates to over 200 countries within 5-7 minutes. The bank also created its own system “Shimshek” enabling money transfers from one branch to another in 7 minutes without opening an account.
Participation in Baku Stock Exchange and MilliKart capitals
DemirBank is the founder of ADB Broker company which is one the shareholders of Baku Stock Exchange where it provides broker and dealer services. DemirBank is also one of the main shareholders of progressive center MilliKart.
Institutional development
DemirBank attaches importance to its institutional development within various programs of EBRD, USAID, IFC, etc. and received technical assistance for institutional development and strengthening of different fields of activity.
Socially oriented activity
One of the priorities for the Bank is to strengthen its social activity. Pursuant to this policy the bank expands its participation in social programs, increases public micro crediting, finances social projects, increases social packages for employees and realizes other measures every year.
UGUR Prize
For stable operation and confidence of international financial institutions, as well as for achievements in social-economic development of the regions Demirbank secured 2 UGUR nominations (was awarded with UGUR Prize in 2 nominations).
International auditor
DemirBank is the first private bank that has been audited since 1996 in accordance with International Accounting Standards. The performance of DemirBank is audited by PriceWaterhouseCoopers.
