In 2008, Rabitabank was awarded a line of credit from the Overseas Private Investment Corporation (OPIC), to be managed by World Business Capital (WBC). In 2009, Turanbank was awarded a similar line of credit. As a condition of the lines of credit, both Rabitabank and Turanbank received targeted technical assistance from FSVC that helped improve the banks’ operations and expand SME access to credit.
FSVC worked with two local banks in Azerbaijan to improve their banking operations and promote SME access to finance. Over a series of in-country consultations and US-based study tours, FSVC provided expert assistance on a variety of topics, including asset/liability management, retail banking and product development, SME segmentation and financing, as well as addressed gaps in the banks’ HR and IT policies. As a result, the two banks were able to adapt changes to their internal operations that minimized risks associated with taking on new SME customers.
Program Impact
Development of new credit card product to launch on Azeri SME market.
Asset/liability management training manual based on international standards.
Delivery of expert report and provision of sample IT policies and procedures to Rabitabank.
Design of compensation scheme to motivate bank tellers to hit key performance indicators in Azerbaijan.