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Thursday, January 18, 2018

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

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