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Monday, June 18, 2018

IBA assets surge 22.7 percent in 2014

The International Bank of Azerbaijan (IBA) said on Thursday that its assets grew by 22.7 percent in 2014.

Assets reached approximately $11.2 billion as of Jan. 1. Over the course of 2014, its loan portfolio also grew by 16.6 percent, with individual loans totaling approximately $866 million.

The bank also said its deposits amounted to approximately $2.21 billion. Overall revenue for the bank in 2014 reached approximately $748.1 million, with a net profit of approximately $82.4 million.

The bank is considered to be the largest in the country and the largest financial institution within Azerbaijan that deals with international currency.

The bank sports 36 branches and nearly 100 outlets over 40 cities. There is a branch located in Moscow that was opened in 2002 to facilitate positive relations in finances and trade between both Azerbaijan and the Russian Federation. It is one of the country's leaders in corporate and private financing as well.

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International Bank of Azerbaijan

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