International Bank of Azerbaijan assets increase by 23% per year

Photo: International Bank of Azerbaijan assets increase by 23% per year / Business News

Baku, Azerbaijan, April 18
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The assets of the International Bank of Azerbaijan (IBA) increased by 22.8% during the year and reached 7.648 bln manat as of April 1, 2014, the bank said on April 18.

IBA's loan portfolio increased 28.2% compared to April 1, 2013 and amounted to 5.155 bln manat as of April 1, 2014. Loans given to physical entities reached 557.2 million manat.

Retail deposits in the bank as of the end of the first quarter of 2014 amounted to 1.542 bln manat. Their growth compared to April 1, 2013 made up 8.7%.

IBA`s total capital reached 950.6 million manat that is by 27.1% more than as of April 1, 2013. The authorized capital of the IBA reached 499.8 million manat. The bank's revenues made 143.97 million manat in the first quarter of 2014. IBA`s net profit as of April 1, 2014, amounted to 12.3 million manat.

The number of active cards issued by the IBA as of April 1, 2014 amounted to 2,041,206. The bank runs 697 cash machines and 5,123 POS-terminals.

The International Bank of Azerbaijan (IBA) was founded in January 1992. The IBA is the largest bank in the country. The bank's main shareholder is the Azerbaijani government, which owns a 50.2 percent stake, while 49.8 percent of the shares are owned by private shareholders.

The official exchange rate is 0.7843 AZN/USD on April 18.

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