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Wednesday, January 16, 2019

International Bank of Azerbaijan reports increase in assets

The International Bank of Azerbaijan increased its assets to $9.13 billion as of Jan. 1, an increase of 21.7 percent.

It reported a 30.5 percent increase in its loan portfolio, which grew to $6.41 billion as of Jan. 1, as well as a total of $706.7 million in loans to individuals.

The bank saw a 22.2 percent increase in the amount of deposits during the reporting period and an increase of 25.5 percent in total capital, reaching $1.15 trillion. It reached an authorized capital of $604.5 million.

The bank's total revenue was at $603.48 million and its net profit grew by 17.3 percent.

The bank has reported the activation of 2 million IBA cards and its service now includes 690 ATMs and 4,951 POS-terminals.