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Friday, June 23, 2017

IBA-Georgia net income nearly triples year-over-year

Compared with this point in 2013, net income at the Georgian branch of the International Bank of Azerbaijan (IBA-Georgia) nearly tripled.

By the end of the third quarter, the bank had $73 million in assets. The loan portfolio of the branch made up $54.4 million, with $6.1 million in reserves.

The bank's liabilities equaled $57.2 million, with funds in current accounts at $13.8 million. The bank said this was more than three times what it was at this time last year.

At the end of September, the total capital of the bank amounted to $15.8 million, with $12.9 million of this in charter capital, an increase of 9.5 percent.

By the end of the third quarter, interest income reached $2.7 million, and net income from other sources was at $1.4 million. The exchange rate between the dollar and Georgian Lari is currently 1.75 Lari to every U.S dollar.

Organizations in this story

International Bank of Azerbaijan 67 Nizami street, Baku AZ1005 Azerbaijan Republi ,

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