2. 2 Presentation 2015
Table of Contents
Azerbaijan Background 03
Dynamics of key performances of Azerbaijani banking sector 05
Investment Highlights 06
Muganbank at a Glance 07
Muganbank History 08
Bank Management 10
Branch Network 12
Key goals and strategies 13
Market share 14
Loan portfolio of top 15 Azerbaijan Banks 15
Select Clientele and Product Offerings 16
Activity directions 17
International Relations & Partnerships 18
Local Relations & Partnerships 19
Loan portfolio 20
Funding strategy 25
Funding Profile 26
3. 3 Presentation 2015
Azerbaijan Background (I)
Azerbaijan General Information
• The largest economy of the South Caucasus and one of the fastest growing
economies in the world (4.9% Annual GDP Growth in 2013 – World Bank data)
• Serves as the best transport link connecting South Eastern Europe with the vast
regions of growing importance of Central Asia and the Caspian Sea
• Long-term prospects supported by world oil prices,the location of new oil and
gas pipelines in the region,and Azerbaijan’s ability to manage its energy wealth
to promote sustainable growth in non-energy sectors of the economy and spur
employment
• Area: 86,600 sq.km
• Border countries: Turkey, Georgia, Russia, Iran, Armenia
• Azerbaijan has a republican form of government from 1918,executive headed by
the President (5 year term)
• Legislative: Unicameral National Assembly (Milli Majlis) with 125 deputies
(5 year terms);
• Judiciary topped by the Supreme Court of the Republic.
• Population - 9,477,000 (2012)
• May,2012 - Eurovision Song Contest took place inAzerbaijan at Baku Crystal Hall
constructed specially for holding the contest.
• June,2015 – Azerbaijan will host the first European Games. Sports centers are
being constructed in different regions of the country to this end.
Major Industries
Oil and Natural Gas,Steel,Cement,
Chemicals and Petrochemicals,
Textiles,Agriculture,Tourism
Major Trading Partners
Italy,Germany,Turkey,France,
Netherlands,People’s Republic of
China,Russia,USA
Major Countries by Foreign
Direct Investment (FDI)
Great Britain,Turkey,USA,China
Major International Audit
Companies
Price Waterhouse Coopers,Ernst &
Young,Deloitte,KPMG,Baker Tilly
4. 4 Presentation 2015
Azerbaijan Background (II)
“Contract of the Century”and following years
• September 20,1994 - “Contract of the Century“ - After gaining independence Azerbaijan started to attract badly
needed foreign investment into the country.The implementation of the 20 PSAcontracts (requiring $60 billion
investment) that have been concluded so far is an integral part of Azerbaijan’s oil strategy.
• 1995 - Azerbaijan International Operating Company (AIOC).
• AIOC was composed of major international companies: BP (UK),Amoco (U.S.),LUKOIL (Russia), Pennzoil,
(now Devon of U.S.),UNOCAL (U.S.),Statoil (Norway),McDermott (U.S.),Ramco (Scotland),TPAO (Turkey),
Delta Nimir (now Amereda Hess of U.S.),Exxon,now ExxonMobil (U.S.); ITOCHU(Japan); and INPEX(Japan)
and SOCAR (Azerbaijan).
• 1998 – Agreement for Baku-Tbilisi-Ceyhan pipeline among Azerbaijan,Georgia and Turkey.
• Shah Deniz field,discovered in 1999,is one of BP’s largest gas field finds in recent decades.
• 2006 - Shah Deniz 2
• 2013 – Trans Anatolian Natural Gas Pipeline Project (TANAP)
Early Oil Boom (XIX century)
The main oil-producing regions were located near Baku
at Sabunchy,Surakhany, and Bibi-Heybat
Foreign oil companies
• Branobel Operating Company (The Petroleum
Production Company of the Nobel Brothers)
• De Rothschild Freres
• Royal Dutch Shell
• James Vishau and Anglo-Russian Oil Company
• Trade House Benkendorf and Co
• Russian Oil General Corporation
Petroleum Industry in Azerbaijan
5. 5 Presentation 2015
2012 2013 2014 2015 1Q
Assets 16,530.40 20,385.10 24,706,7 28,850.3
Loans 11,963.90 14,989.80 17,626.7 20,072.8
Household savings 5,113.40 6,395.80 7,806.4 7,781.6
Total capital 2,573.00 3,426.20 4,157.5 4,440.1
Growth dynamics of key performances of Azerbaijani banking sector,%
( In million of Azerbaijani Manats )
• 44 banks are operating inAzerbaijan.
• The banking sector has preserved its growth dynamics
and further expanded its financial intermediation function
during the 1st quarter of 2015.
• The banking sector assets amounted to 28,850.3 mln.
manats as of the 1st quarter of 2015.
• The banking sector assets have increased 4,144 mln.
manats or 16,7% from the beginning of the year.
• Loans have increased 13,8% from the beginning of the
year and reached 20,072.8 mln.manats,thus constituting
69,5% of the banking sector assets as of the end of the
1st quarter of 2015.
• Deposits from individuals have decreased -1,4% and
amounted to 7,781.6 mln manats as of the end of the 1st
quarter of the 2015.
Dynamics of key performances of
Azerbaijani banking sector
Source: Central Bank of Azerbaijan Republic
6. 6 Presentation 2015
Investment Highlights
Established
Player in Local
Sector
Dynamic
Growth
Strategy
Innovative
New Products
Portfolio
Exposure to
Azerbaijan
Attractive
Value & Tenor
Multilateral
Relations
MUGANBANK
OJSC
7. 7 Presentation 2015
Muganbank at a Glance
Key Financials
(USD ˜000s)
2012 2013 2014 JUNE 2015
Total Assets 363,462 425,626 545,545 410,815
Total Capital 54,452 64,727 68,913 48,760
Loan Portfolio 254,973 289,570 371,402 312,370
Deposits 162,368 194,054 203,015 160,268
Profit 4,959 5,130 5,988 -3,497
ROA % 1.36 1.31 1.85 -0,81
ROE % 9.11 9.02 9.46 -7,56
NIM % 7.40 8.3 10.61 11,48
2012 2013 2014 JUNE 2015
Rates of exchange USD/AZN 0.7850 0.7845 0.7844 1,05
“Muganbank” OJSC,one of the leading banks of Azerbaijan,
has been successfully functioning for more than 22 years.
The Bank provides individuals and corporate customers with innovative
products.The Bank is a leader in servicing the SME segment of the
economy,but also has a growing retail portfolio.
“Muganbank” OJSC has a broad branch network covering the capital
and key regions of the country,with 44 branches and 6 sub-branches
operating nationwide.“Muganbank” OJSC also operates a representative
office in Moscow.
“Muganbank” OJSC cooperates with such international financial
institutions as the US Agency for International Development (USAID),
European Bank for Reconstruction and Development (EBRD),
International Finance Corporation (IFC),World Business Capital,Inc.(WBC),
Overseas Private Investment Corporation (OPIC) and Islamic Corporation
for the Development of the Private Sector (ICD).The Green for Growth
Fund (GGF),European Fund for Southeast Europe (EFSE).
Rated ‘B-’with a Stable Outlook by Standard & Poor’s
The bank’s ownership structure is as follows:
Elmir Mehdiyev ( A successful Azerbaijan businessman with further
interests in agriculture,construction and property development.) - 63.50%
Magbet Mehdiyev - 13.10%
Vafa Valiyeva - 12.05%
Farida Mehdiyeva - 11.35%
Elmir Mehdiyev
Magbet Mehdiyev
Vafa Valiyeva
Farida Mehdiyeva
Shareholder
Structure
63.50%
11.35%
12.05%
13.10%
8. 8 Presentation 2015
Muganbank History
“Muganbank” OJSC
launched placement
of the interest bearing
bearer bonds.Face value
of a bond is 50 (fifty)
AZN.The bonds were
issued by the Issuer
for the term of 10 (ten)
years and ensure annual
interest of 2%
According to the
General Meeting of
Shareholders,the Bank
was reorganized into
OJSC “Muganbank”
Start of cooperation
with MIG Bank and
the promotion of
Forex product on the
Azerbaijan market
“Muganbank” OJSC
concluded a credit
agreement for
US$10 million with
WorldBusiness Capital
Inc (“WBC”),a US-
based investment fund,
and also started to
cooperate with OPIC
In November 2006 EBRD
opened its first credit
line for the Bank in
amount of USD 2 mln.
Successful set up of
the Bank’s own express
money transfers system
“Monex”
The Bank was chosen by
the International Finance
Corporation as a pilot
bank on introducing
Corporate Governance
Standards
Muganbank bearer
securities placed at
NASDAQ OMX Riga
7’000 Muganbank notes
with face value of USD
1’000.
1992 - 2004 2006 - 2007 2009 2010 2011-2013
9. 9 Presentation 2015
2014
Muganbank was awarded by European Bank for
Reconstruction and Development (EBRD) Trade
Facilitation Programme (TFP) “Most Active Issuing Bank
inAzerbaijan in 2013”.The award was presented to the
Bank as part of the annual Trade Facilitation Programme
(TFP) Information Session and Award Ceremony during
the EBRD 2014 Annual Meeting and Business Forum
(May 14-16,2014,Warsaw).
Muganbank commenced work towards receiving a
senior loan facility of up US$ 15,000,000 from Deutsche
Investitions- und Entwicklungsgesellschaft mbH (DEG),
a member of KfW-Bankengruppe.On-going process.
The Green for Growth Fund,Southeast Europe (GGF)
issued a US$ 5 million senior loan to Muganbank
to promote energy efficiency (EE) investments in
Azerbaijan.The loan enables Muganbank to become
one of Azerbaijan’s first institutions to offer dedicated EE
loans. Projected primary energy savings to result from
EE investments financed by sub-loans: 8,700 MWh/year.
Islamic Corporation for the Development of the Private
Sector (ICD) extended to Muganbank a US$ 10 million
line of financing to be used to finance eligible projects
of selected small and medium sized enterprises (SME)
inAzerbaijan with substantial developmental impact in
the country.
The European Fund for Southeast Europe (EFSE)
provided a US$ 5 million senior loan facility to
Muganbank to support the development of micro,small
and medium-sized enterprises (MSMEs) in the rural
regions of Azerbaijan.The loan enables Muganbank to
effectively reach out to rural businesses inAzerbaijan
and service country’s more remote areas.
Muganbank significantly expanded its network of
services through extending to regions of the country
and bringing the number of branches up to 44 and sub-
branches up to 6.
The European Bank for Reconstruction and
Development (EBRD) lent US$ 3 million to Muganbank
to finance energy efficiency and renewable energy
projects in the country.The loan is part of the EBRD’s
Caucasus Energy Efficiency Programme (CEEP).
Muganbank will be the EBRD’s third partner institution
inAzerbaijan to secure an energy efficiency facility
under CEEP.
Muganbank started up a US$ 50 million Euro-
Commercial Paper Programme (ECP programme) with
the support of Baker & McKenzie,BCP Securities (USA)
və BNP Paribas (UK) and the first offering of notes under
the programme.Muganbank was the first inAzerbaijan
to initiate a Euro-Commercial Paper Programme.
Muganbank History
10. 10 Presentation 2015
Bank Management
Elmir Mehdiyev
Chairman of
Supervisory Board
A Strong and Experienced Supervisory Board:
• Born on 25.04.1970.
• Graduated fromAzerbaijan State
University of Economics.
• Has worked in the banking system
since 1989.
• Main shareholder and Chairman of
Supervisory Board of “Muganbank”
OJSC since May 2000.
• Born on 30.01.1979.
• Graduated from Baku Merchandising
Commercial University and Azerbaijan
State University of Economics.
• Has worked in the banking system
since 2001.
• Member of Supervisory Board of
“Muganbank” OJSC since April 2009.
• Born on 05.11.1973.
• Graduated from Baku State University.
• Has worked in the banking system
since 1993.
• Member of Supervisory Board of
“Muganbank” OJSC since October
2008.
Urfan Goyushov
Member of
Supervisory Board
Shaig Alakbarov
Member of
Supervisory Board
11. 11 Presentation 2015
Bank Management
Rasim Ismayilov
Deputy
• Born in Baku on 21.05.1973.
• Graduated fromAzerbaijan State Institute of Economics
with honors.
• Has worked in the banking system since 2001.
• Deputy Chairman of the Board of ‘’Muganbank’ OJSC
since December 2005.
• Bornin Baku on 14.08.1971.
• Graduated fromAzerbaijan Institute of Oil and Chemistry.
• Has worked in the banking system since 1993.
• Director of Financial Department of “Muganbank” OJSC since
29.10.2004.
• Member of the Board.
• Born in Gazakh region on 15.01.1971.
• Graduated fromAzerbaijan State Oil Academy.
• Has worked in the banking system since 2001.
• Director of Loans Supervision Department of “Muganbank”
OJSC from 03.03.2006
• Member of the Board.
• Born in Baku on 13.03.1970.
• Graduated fromAzerbaijan State University of Economics.
• Has worked in the banking system since 1998.
• Director of Credit Department of “Muganbank” OJSC
since 09.02.2004.
• Member of the Board
Samir Ismayilov
Member
Shakir
Allahverdiyev
Member
Galina Sidneva
Member
A Strong and Experienced Executive Board:
Elmir Hasanov
Chairman
• Born in Baku on 28.03.1971.
• Graduated fromAzerbaijan State University of
Economics in 1996.
• Has worked in the banking system since 1994.
• Graduated from Strathclyde Business School’s MBA
program.
• Chairman of the Board of “Muganbank” OJSC since
October 2008.
• Born in DagestanAutonomous Republic of Russian Federation
on 14.01.1974.
• Graduated fromAzerbaijan State Institute of Economics with
honors.
• Has worked in the banking system since 1996.
• First Deputy Chairman of the Board of “Muganbank” OJSC since
January 2005.
Rasul Jalilov
First Deputy
• Born in Baku on 31.08.1970.
• Graduated fromAzerbaijan State Institute of Economics.
• Has worked in the banking system since 1991.
• Deputy Chairman of the Board of “Muganbank” OJSC
since January 2005
Etibar Gasimli
Deputy
12. 12 Presentation 2015
• Our wide branch network is one of our key competitive
advantages,as it allows us to provide a diverse range of
financial services to clients.
• The policy of expansion and efficiency gain of the branch
network is an integral part of the dynamic development of
Muganbank in the regions of the country.This development
is ensured by improvement of both quantitative and
qualitative indicators.
• Muganbank,expanding its services chain,has opened 20
new branches and 6 sub-branches over the last five years
thereby covering 70% of the country.
• Nowadays Muganbank’s 44 branches and 6 sub-branches
in the country,as well as its representative office in Moscow,
effectively provide customers with all types of banking
products.
• Muganbank has 57 ATMs and 659 POS-terminals catering to
nearly 15,596 cardholders.
Azerbaijan
Moscow
Representative Office in MoscowBranch Network
Branches
13. 13 Presentation 2014
Key Strategic Targets
• To become the multi-specialist bank inAzerbaijan while sustaining
profitability
• To focus onAzerbaijan market where we have substantial local knowledge
• To concentrate on selected customer segments and products and
increase market share
• To focus on Micro and SME customers as a key driver of the country growth
• To optimise branch network to reach the highest-value customers
• To develop cost-effective alternative distribution channels
• To increase new deposits and deposit offerings
• To develop additional fee generating products and businesses
• To achieve effective multichannel integration
• To focus on Human capital recruitment and development
Key goals and strategies
14. 14 Presentation 2015
7.26%
Over the last 5 years Muganbank has maintained its position in Top15 among banks
operating inAzerbaijan.
Market share
Income
statement
Assets
IBA - 8,641,408.49
Xalq Bank - 1,193,629.52
Bank Technique - 596,923.41
ASBank - 451,071.36
DemirBank - 400,324.17
Yapi Credit Bank - 338,673.83
TuranBank - 305,783.57
VTB - 297,897.36
Pasha Bank - 1,212,491.39
Bank Standart - 1,108,663.59
AGBank - 498,096.50
Muganbank - 411,627.22
Nikoil - 358,891.92
ExpressBank - 326,962.95
Rabita Bank - 300,986.39
IBA - 54,411.51
Muganbank - 8,686.73
Pasha Bank - 7,492.96
AGBank - 6,106.72
VTB - 4,421.97
Bank Technique - 4,069.28
Rabita Bank - 3,624.71
ASBank - 2,131.58
Bank Standart - 9,409.46
Xalq Bank - 7,935.43
DemirBank - 6,700.66
Nikoil - 5,974.19
Yapi Credi Bank - 4,111.44
Expressbank - 3,962.91
TuranBank - 3,090.81
( In thousands of Azerbaijani Manats )
3.03%
2.74%
2.43%
2.50%
4.52%
4.62%
6.74%
5.07%
7.37%
5.67%
6.01%
6.57%
3.35%
3.11%
3.08%
3.0%
2.74%
2.34%
3.63%
52.55%
41.18%
7.12%
1.61%
1.99%
2.06%
2.18%
1.86% 1.83%
1.81%
The source of information: Fineco Infromational & analytic agency OJSC Date: January 2015
The above-mentioned banks are the banks which have provided their financial figures to Fineco Infromational & analytic agency OJSC.
15. 15 Presentation 2015
Loan portfolio of top 15 Azerbaijan Banks
IBA 6,226,657.50
Xalq Bank 990,271.23
Bank Standard 863,145.02
PASHA Bank 572,472.02
Bank Technique 446,617.29
AGBank 379,805.19
DemirBank 320,137.05
MuganBank 297,673.07
Nikoil 294,608.16
VTB Bank (Azerbaijan) 286,174.03
Yapi Credi Bank 262,528.16
Rabita Bank 238,003.60
Turan Bank 229,093.82
ExpressBank 214,826.43
ASBank 165,999.16
( In thousands of Azerbaijani Manats )
0 mln
0.5 mln
1 mln
1.5 mln
2 mln
2.5 mln
3 mln
3.5 mln
4 mln
4.5 mln
5 mln
5.5 mln
6 mln
6.5 mln
52.82%
8.40%
7.32%
4.86%
3.79%
2.72% 2.5%2.53% 2.23%2.43%
3.22%
1.94% 1.41%1.82%2.02%
MUGANBANK
The source of information: Fineco Infromational & analytic agency OJSC Date: January 2015
The above-mentioned banks are the banks which have provided their financial figures to Fineco Infromational & analytic agency OJSC.
16. 16 Presentation 2015
Bearer bonds
Anyone can get bearer bonds of a face value of 50
manats from Muganbank.The bonds yield an annual
profit of 2% for their holder.Besides,they are drawn
in a promotional lottery every 45 days.In these lottery
draws,the bondholders get a chance of winning cash
prizes from 100 manats up to 50 000 manats. Through
this product the bank,alongside with deposits,raises
additional funds and attracts new customers.
Monex
“MONEX” express money transfer system was
established in 2011.“MONEX” is a means of domestic
and international money transfers between individuals.
At present,“MONEX” services are available inAzerbaijan,
Georgia,Russia,Great Britain,Czech Republic,Mongolia,
Nepal,SaudiaArabia,Kuwait,United Arab Emirates and
Uzbekistan.Through Monex Muganbank establishes
relations with more banks both within the country and
abroad.
Mugan Forex
MUGANBANK was the first among Azerbaijani banks to
offer customers banking services and a wide spectrum
of state-of-the-art technical solutions that enable
working at FOREX market. Muganbank ensures a high-
quality access to trading in currencies,indexes and
commodity futures at international financial markets.
The key purpose in the development of this product
is to ensure that demand inAzerbaijan for FOREX is
effectively and professionally met,and thereby protect
our leadership position on the market and our image.
Select Clientele and Product Offerings
17. 17 Presentation 2015
• Receipt of deposits from the population and the
enterprises (including bonds and deposit instruments);
• Rent of deposit safes;
• Plastic cards transactions;
• All types of foreign exchage transactions;
• International money transfer;
• Issue of credits of different sectors and of any type;
• Guarantees;
• Opening and maintenance of accounts for individuals
and legal persons;
• Other commercial transactions.
Activity directions
“Muganbank”OJSC provides the following bank
services to legal and neutral persons:
18. 18 Presentation 2015
• Muganbank is an associated member of VISA International Payment
system;
• EBRD opened a first credit line for the Bank In November 2006;
• The Bank was chosen by International Finance Corporation as a
pilot bank on introducing of Corporate Governance Standards;
• Muganbank is an associated member of MasterCard International
Payment system;
• Muganbank concluded a credit agreement with WorldBusiness
Capital Inc (“WBC”),a US-based investment fund;
• Muganbank bearer securities were placed at NASDAQ OMX Riga -
7’000 Muganbank notes with face value of USD 1’000;
• World Bank opened credit lines for an agriculture project at US$7,58
million;
• Active with Overseas Private Investment Corporation (OPIC);
• USAID: Technical assistance on products and services to the SME
sector;
• IFC: Advisory Services Project on Developing Mortgage-Lending
Policies and Procedures;
• ICD: Islamic Corporation for the Development of the Private Sector
with a US$15,1 million program
• (GGF): issued a USD 5 million senior loan to promote energy
efficiency (EE) investments inAzerbaijan.
• EFSE: 5 million senior loan to support the development of micro
and small enterprises (MSEs) in the rural regions of Azerbaijan.
International Relations & Partnerships
19. 19 Presentation 2015
• National Fund for Entrepreneurship Support;
• State Agency onAgricultural Credits and the Azerbaijan
Mortgage Fund;
• Baku Inter-Bank Exchange (BICEX);
• Azerbaijan Banks Association;
• Baku Stock Exchange;
• Azerbaijan Entrepreneurship Confederation;
• Azerbaijan Deposit Insurance Fund;
• Azerbaijan Risk Professionals Association;
• Azerbaijan Micro-Finance Association;
• National Confederation of Entrepreneurs (Employers) Organizations
of Azerbaijan Republic (AEC);
• Azerbaijani-Turkish Businessmen Union (ATİB).
Local Relations & Partnerships
20. 20 Presentation 2015
• The provisions for the loan portfolio have been created according
to Central Bank’s guidelines and confirmed by an international audit
company.
• Loans,the principal and interest of which,are past due more than
30 days are defined as NPLs.
• Though international standards consider the past due as +90 days,
more conservative approach is applied in the internal procedures,
and loans past due +30 days are considered NPLs.
• Acovenant of the loan agreement with EBRD requires that a ratio
of the loans that are 30 days past due to gross loan portfolio must
not be greater than 5%.Muganbank has always been in compliance
with this covenant and believes it will continue to be so going
forward.
Loan Portfolio
2012 2013 2014 JUNE 2015
Loan portfolio 207,969 227,167 304,588 345,587
Provisions 7,815 9,137 15,925 12,290
NPLs 8,885 (4.27%) 11,086 (4.88%) 13,120 (3.93%) 17,281(5%)
200 000
300 000
250 000
150 000
100 000
50 000
0
Loan portfolio Provisions NPLs
( In thousands of Azerbaijani Manats )
4.27%
4.88%
3.93%
5 %
21. 21 Presentation 2015
Loan Portfolio
Type ( Loan amount ) 2012 2013 2014 JUNE 2015
Corporate loans 57,583 (28%) 59,473.34 (26%) 50,393.63 (16.5%) 45,185.06(13.07%)
SME loans 59,341 (29%) 46,672.08 (21%) 62,735.58 (20.6%) 62,999.46 (18.22%)
MSE loans: Micro and small loans – the amount of these loans shall not exceed 100 000 AZN 22,615 (11%) 29,609.27 (13%) 21,404.61 (7%) 18,219.41 (5.29%)
Retail loans 68,430 (33%) 91,412.07 (40%) 170,054.30 (55.8 %) 219,183.61 (63.42%)
207,969 (100%) 227,166.76 (100%) 304,588.12 (100 %) 345,587.54 (100 %)
2012 2013 2014 01 JUNE
2015
( In thousands of Azerbaijani Manats )
11% 13%
28% 26%
16.5% 13.07%
29% 21%
20.6% 5.29%
18,22%
7%
33% 40% 55.8% 63.42%
24. 24 Presentation 2015
40%
Loan Portfolio ( Retail segment )
• SME and Corporate loans granted out of the Bank’s own
funds – up to 36 months
• Project loans financed through state funds – up to 60 months
• Micro loans – up to 24 months
• Consumer loans – up to 24 months
• Pensioner loans – up to 36 months
• Car loans – up to 36 months
• Plastic cards – up to 12 months
• Mortgage loans – up to 30 years
• Mortgage loans are provided out of the funds of Azerbaijan
Mortgage Fund under the Central Bank of Azerbaijan Republic
and in accordance with the Fund’s terms and conditions.There is
no tenor mismatch.
Retail loans
(Loan amount)
2012 2013 2014 JUNE 2015
Car 14,176.96 (21%) 20,620.80 (23%) 8,530.81 (5%) 7,383.39 (3,36%)
Mortgage 30,241.65 (44%) 36,324.81 (40%) 39,940.67 (23.5%) 39,697.35 (18,11%)
Loans for renovation 4,538.36 (7%) 2,284.86 (2%) 1,712.82 (1%) 1,580.30 (0,72%)
Pawn-shop 3,037.42 (4%) 1,955.05 (2%) 1,624.15 (1%) 1,305.66 (0,59%)
Plastic card 4,678.28 (7%) 5,655.07 (6%) 5,957.86 (3.5%) 7,018.24 (3,2%)
Other (medicine,
service,finance sector)
11,757.39 (17%) 24,571.48 (27%) 112,287.99 (66%) 162,198.67 (74%)
Total 68,430.06 (100%) 91,412.07 (100%) 170,054.30 (100%) 219,183.61 (100%)
( In thousands of Azerbaijani Manats )
2013
5% 3.36%
3.5%
1%
1%
66% 74.0%
4%
7%
21%
44%
17%
7%
2%
2%
23% 23.5% 18.11%
3.2%
0.59%
0.72%
27%
6%
2012 2014 01 JUNE
2015
25. 25 Presentation 2015
• Deposits and customer accounts
• Loans from CBAR
• Loans from National Fund for
Entrepreneurship Support
• Loans from Mortgage Fund under the CBAR
• Deposits from Mortgage Fund under the CBAR
• Loans from EBRD and other financial institutions
Funding strategy
2012 2013 2014 JUNE 2015
Deposits 93,782 109,369 137,308 146,843
Current and settlement accounts 33,677 42,866 44,009 21,437
Total customer accounts 127,459 152,235 181,317 168,281
EBRD and other financial Institutions
CBAR and State Funds
Deposits and Customer accounts
Deposits Current and settlement
accounts
Total customer
accounts
0
50,000
100,000
150,000
200,000
( In thousands of Azerbaijani Manats )
31.55%
57.28%11.17%
26. 26 Presentation 2015
Funding Profile
Central Bank of Azerbaijan Republic
and State Funds
EBRD and other financial institutions
2012 2013 2014
JUNE
2015
Loans from CBAR 11,266 12,100 26,466 25,611
Loans from National
Fund for Entrepreneurship
Support
30,909 29,983 29,074 26,547
Loans from Mortgage
Fund under the CBAR
29,792 34,505 38,850 39,154
Deposits from Mortgage
Fund under the CBAR
9,269 7,249 8,000 7,000
2012 2013 2014
JUNE
2015
Loans from EBRD and
other financial
institutions
23,313 29,694 48,574 35,885
0 10,000 20,000 30,000 50,00040,000
Loans from CBAR Loans from National
Fund for Entrepreneurship
Support
Loans from
Mortgage Fund under
the CBAR
Deposits from
Mortgage Fund under
the CBAR
0
10,000
20,000
30,000
40,000
( In thousands of Azerbaijani Manats )
( In thousands of Azerbaijani Manats )
