OREANDA-NEWS. June 18, 2010. Germany’s third largest bank Landesbank Baden-Wurttemberg (LBBW) allocated a 1 million euro credit line to Azerbaijan’s Bank Respublika for trade financing.

BR reports that the relevant agreement was achieved within negotiations between the two banks on Thursday, 17 June 2010, in the BR head office.

“Over the last few years our Bank has participated actively in different trade financing programs. Our achievements in this direction were assessed by the European Bank for Reconstruction & Development which has recognized BR the Most Active Bank on Trade Financing in Azerbaijan for the second year running,” BR says.

Overall volume of trade financing operations conducted by BR following 2009 with Japan, Germany, Switzerland, Italy and others has exceeded USD 20 million.

Bank Respublika has been operating at the Azerbaijani financial market since 1992.