UNIBANK CLIENTS ACTIVELY USE DOCUMENTARY TRANSACTIONS
Guarantees worth $999,5 thousand and letters of credit worth $360,3 thousand have been given since opening of the credit line. The amount of existing documentary transactions for six months 2004 totaled $458,5 thousand.
Due to successful realization of the program, Unibank was conferred a title as “Most actively developing bank for EBRD trade financing program in 2003 in Azerbaijan” at the EBRD annual meeting in London.
The program is being realized now, and EBRD representatives are expected to arrive in Baku in order to consult Unibank in issues of further activity in this direction.
Unibank letters of credit are accepted in Vachovia bank with which the bank has correspondent relationship.
Unibank had a success in getting new credit line for documentary transactions worth $2 million from Societe Generale and Dresdner Bank. For short period of time guarantees and letters of credit worth $944 thousand will be guaranteed.
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