AGBank has been founded in 1992. At present AGBank is one of the leading banks in Azerbaijan. AGBank built its work on the protecting of client’s interests, responsibility, carefulness, and professionalism.
AGBank had been the first bank that began to finance agro industry projects from May 1997 in the frame of the RARP-1 Partnership Fund of European Union program. The bank credited four projects in total amount of 2.97 milliard manats, including the credit given for the building of the big mill in Mingacheur. Borrowed funds of RARP-1 program had been completely repaid.
The main activity direction of the bank is financing of production and trade sector of Azerbaijan Republic.
AGBank is the agent of International Finance Corporation of the small and middle business finance program in Azerbaijan. In 1998 AGBank was the first bank granted with the credit line within the frame of this project and had been the first in using of the first tranche in amount of 400 000 US dollars. The objects of this program had been in industry and (mill, furniture construction) service areas (typography, photographic laboratory, hairdressing saloon and etc.). The perspective credit portfolio of the bank includes projects in amount of 450 000 US dollars. In April of 2002 the bank fully repaid all liabilities of the first tranche according to the fixed schedule to IFC. During the work of this program the bank got convenient experience in financing of IFC suitable to international standards. In the bank works the Credit Committee approving all decisions of the credit risk.
AGBank was the first bank that was provided with the credit line of Export-Import Bank of Malaysia in amount of 1.5 million US dollars. The credit line had been opened for financing of trade area (support of letters of credits, granting of warranties and etc.) and post financing. This credit line affords the transfer of credits into the real money after payment. According to this program every project could be financed for two-year time.
At present AGBank offers full spectrum of bank services to its clients. AGBank possesses with the modern information technologies for bank services as well as good experience in customer service. The main aim of AGBank is: to render high quality services matching to the world standards and take a leader position on the market of bank services.
The mission of AGBank is to become the best corporative bank in Azerbaijan, take up and keep the leading position on the market of plastic cards, provide development of small and middle entrepreneurships as well as care about human resources and clients.
At the heart of AGBank strategy lays the aspiration for providing the continuous growth of business value and stability in profit earning despite of ups and downs of the market conjuncture. The strategically prioritized sectors in the banks activity is a development of small and middle entrepreneurship, servicing of corporative clients and conduction of operations on financial markets as well as partnership with the international financial institutions.
AGBanks activity is directed on the utmost help to the economic formation process and development of entrepreneurship in Azerbaijan.