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Monday, November 12, 2018

International Bank of Azerbaijan reports 25 percent increase in assets

The International Bank of Azerbaijan, the state-controlled bank operating in the Republic of Azerbaijan, increased its assets by 25 percent to $8.77 billion in the first three quarters of 2013, the bank recently announced.

The bank's loan portfolio increased by 35 percent during the period, reaching $6.2 billion - more than 540 loans were made to individuals - while bank deposits during the first three quarters reached $1.95 billion.

Total capital increased by 30.2 percent to $986.27 million during the first three quarters, while net profit was $46.67 million.

Headquartered in Baku, the bank consists of 36 branches and 95 service outlets in more than 40 cities.

IBA has the largest asset scope, customer base and international business of all banks operating in the South Caucasus. It has more than 30,000 corporate customers and 400,000 individual customers.