Cistran Finance Exploring the Spirit of Capitalism's New Frontier

Monday, August 21, 2017

IBA sees assets increase more than 25 percent in 2014

The International Bank of Azerbaijan's (IBA) assets increased by 25.2 percent this year, reaching AZN 8.04 billion--approximately $10.25 trillion dollars, according to data up through July 1.

The bank's loan portfolio also increased, rising 23.4 percent year-on-year, to reach AZN 5.52 billion--more than $7 billion. Loans given to individuals amounted to AZN 588.6 million, or $750 million, according to a press release.

Deposits also increased this year, rising by 5. 1 percent to AZN 1.54 billion, or $1.9 trillion.

Total capital at the bank reached AZN 989.1 million--or $1.2 trillion, up by approximately 30 percent year-on-year, and authorized capital reached AZN 563.3 million--approximately $718.2 million.

IBA's revenues for the first half of the year were AZN 330.2 million, or $421 million, and net profit, according to the July 1 data, was AZN 29.7 million, or $37.8 million.

Additionally, IBA had more than two milion active issued cards as of July 1, with 709 ATMs and 7,400 POS terminals run by the bank.