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International bank of Azerbaijan to get 600M manat from government

Economy Materials 23 January 2016 15:35 (UTC +04:00)
Azerbaijani government plans to inject an additional 600 million manat equity into International Bank of Azerbaijan this year
International bank of Azerbaijan to get 600M manat from government

Baku, Azerbaijan, Jan. 23

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Azerbaijani government plans to inject an additional 600 million manat equity into International Bank of Azerbaijan this year, Fitch international ratings agency said in a report.

Fitch said that this shows greater propensity to support the country's largest bank.

"The small banking sector gives the government scope to support it, but direct capital support would be another fiscal cost," Fitch said.

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