The International Bank of Azerbaijan (IBA) held its top position in the recently released CIS Banking Market Leaders.
The rankings, prepared by rating agency experts at RIA, showed the IBA is the 31st largest CIS bank as of early 2014, rising from a 2013 ranking of 34th. The ranking includes 200 of the largest entities in the CIS banking market, according to ABC.az.
IBA assets totaled $9.79 billion as of Jan. 1, according to RIA, accounting for 37.7 percent of the total assets of Azerbaijan’s banking system, posting growth of 24.5 percent compared to the same term’s index in 2013.
The IBA, headquartered in Baku, consists of 36 branches and 95 service outlets in more than 40 cities. The bank has the largest asset scope, customer base and international business of all banks within the South Caucasus region. It counts more than 30,000 corporate customers and 400,000 individual customers, with almost all large and medium companies operating in Azerbaijan operating as IBA customers, ABC.az reports.
The IBA is one of the world’s 1,000 largest and most stable banks as of 2013.