Bank Respublika
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 | |
.jpg) Bank Respublika branch in Barda | |
| Company type | Open Joint-Stock Company |
|---|---|
| Industry | Financial services |
| Founded | May 22, 1992 |
| 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 |
| Footnotes / references [1] | |
Bank Respublika is an Azerbaijani private commercial bank established on May 22, 1992, based on the 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.
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 its 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]
