Parabank OJSC is one of the oldest Banks in Azerbaijan's banking sector, focusing traditionally on the development of Micro and SME financing activities in Azerbaijan. 8 branches of total 17 are located outside Baku and most of them are engaged in rural activities by providing unsecured group loans to farmers, loans to regional enterprises, etc. The Bank also provides group loans to microenterprises, teachers, medical staff, municipal staff both in regions and capital.

Parabank started its active strategic growth plan (2008-2010) and for already for 2008-2009 years got impressive results. The Bank is mainly financed by means of its deposit portfolio from the customer base, which has increased by 200% for the last two years. Loan portfolio and assets of the Bank have grown accordingly by 120% and 100%.

Parabank pays great attention to the development of relations and cooperation with international partners and it is now in process of negotiations with world's leading DFI's such as EBRD, IFC, ADB, the World Business Capital, etc. The Bank is one of the first banks cooperating with the German Azerbaijan Fund (established by KfW). Parabank is also in active negotiations with a number of Microfinance donors such as: DWM, Responsability, Triple Jump, Symbiotics, etc.

Parabank aims to continue its active growth and plans for coming years in terms of branch network development, loans to customers, deposits, operations and other services to clients. The Bank aims to expand activities with respect to international financial institutions and to attract resources to support its lending activities.

Company website: www.parabank.az