Azerdemiryolbank

OSJC Azerdemiryolbank (AzDB) is the eighth largest commercial bank in Azerbaijan. It was established in 1989 by the Azerbaijani State Railway Company (ASRC). Since 1995, the main shareholder has been the Hajiyev family, and other current shareholders include EBRD and FMO. AzDB offers a broad range of interest and non-interest banking services with different loan types suitable to both small and large businesses. It also offers trade finance facilities and consumer loans. As banking operations of ASRC and its subsidiaries were fully transferred to the state-owned International Bank of Azerbaijan (IBA) in 2003 and 2004, respectively, AzDB has been shifting its focus to retail and micro, small and medium enterprise (MSME) customers.

SIFEM provided senior loan financing of USD 7.0 million to support the bank's continued growth as it expands in areas outside the capital Baku, and product development within the areas of MSME financing. The loan is to be used for financing MSMEs outside the oil and gas sector with annual revenues and total assets up to USD 15.0 million and less than 300 employees as defined by the Word Bank Group.