The International Bank of Azerbaijan (IBA) recently announced that its grew by 22 percent year-to-year

The bank's assets grew to 8.39 billion AZN through Oct. 1. The IBA's loan portfolio also saw growth, reaching a 24.6 percent increase over this point in 2013, with 6.06 billion AZN given to business and 639.3 million AZN given to private lenders.

Over the past three quarters the IBA is posting earnings of 438.7 million AZN with a net profit of 44.7 million AZN. The IBA has also posted increased deposits equaling 1.6 billion AZN and total capital reaching 986.8 million AZN, 27.6 percent higher than at this point last year.