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Saturday, August 19, 2017

IBA-Georgia sees increased assets in 2014

The Georgian branch of the International Bank of Azerbaijan (IBA) on Tuesday reported assets growing by 20.5 percent over the course of 2014.

The growth of assets netted the bank $67.31 million as of Jan. 1. The bank also saw increases in its overall capital and loan portfolio. Net profit for the branch was approximately $960,000 in 2014. Capital for the Georgian branch amounted to approximately $12.7 million, and the IBA system amounted to approximately $18.8 million.

Term deposits doubled, according to the report, reaching $6.8 million.

The IBA is one of the largest financial institutions in Azerbaijan and the largest that deals in international financial affairs and transactions. It has received numerous awards for being a quality bank for many years. The Georgian subsidiary was opened in 2007 in Tbilisi and is a member of the Tbilisi Interbank Stock Exchange, the Association of the Banks of Georgia and the Banking Association for Central and Eastern Europe.

Organizations in this story

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

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