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.jpg/1280px-Bank_Respublika_(B%C9%99rd%C9%99).jpg) Bank Respublika branch in Barda | |
| Company type | Open Joint-Stock Company |
|---|---|
| Industry | Financial services |
| Founded | May 22, 1992 (1992-05-22) |
| Headquarters | , |
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) |
| Rating |  B2 (Moody's, July 2024),  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 a license issued by the Central Bank of Azerbaijan.
As of 2023[update], 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]
- Guliyev family – 75%:
- Natig Guliyev – 16.7%
- Elchin Guliyev – 15.2%
- Sevda Guliyeva – 14.5%
- Saday Guliyev – 14.4%
- Mariya Guliyeva – 14.1%
- DEG – 16.7%
- Sparkassen International Development Trust – 8.3%
- Others – 0.2%
See also
References
- ^ "Bank Respublika OJSC". FMO. 16 February 2024.
- ^ "Ranking of Azerbaijani banks by deposit portfolio volume". Trend.Az. 2023-10-19. Retrieved 2025-12-06.
- ^ "EBRD, EU and Bank Respublika to support Azerbaijani MSMEs". www.ebrd.com. Retrieved 2025-12-06.
- ^ a b c d "AZE: Private Banks and Leasing Companies in Azerbaijan–Bank Respublika" (PDF). Asian Development Bank. December 2011. Retrieved 24 June 2025.
- ^ "Bank Respublika". www.bankrespublika.az. Archived from the original on 2018-12-25. Retrieved 2025-12-06.
- ^ "One of Azerbaijan's Bank Respublika shareholders increases stake". Trend.Az. 2018-02-23. Retrieved 2025-12-06.
- ^ "Azerbaijan's banks emerge from the dark". www.thebanker.com. Retrieved 2024-05-27.
- ^ "BankRespublika". www.bankrespublika.az. Archived from the original on 2016-09-15. Retrieved 2025-12-06.
External links
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- Bank Respublika web site
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