Perspectives of cooperation between the bank sectors of Georgia and Azerbaijan were discussed in a meeting of the President of the National Bank of Georgia and Roman Gocharidze, and the chairman of the International Bank of Azerbaijan, Jahangir Hajiyev, Trend special correspondent in Georgia reports.
The National Bank of Georgia said that the Azerbaijani bank intends to open its branch in Georgia. The biggest Azerbaijani already has its branch Russia.
In his part the Azerbaijani bank voiced his intention to take an active part in Georgias economic life.
Over 50% of shares of the International Bank of Azerbaijan (IBA) is owned by the government In 2005 the bank owned 50.9% of assets of the Azerbaijani banking sector ($1,257,9m), 53.48% of credit portfolio, 61.91% of deposits, 24.58% of stock capital ($90.92m) of the country.
In his turn the President of the National Bank of Georgia welcomes the presence of one of the biggest Azerbaijani banks in the Georgian market and Georgia is ready to cooperate with big financial institutes of the region.
In 2006 the IBA was granted long-term Р'Р' + and individual by the international rating agencies EUROMONEY magazine conferred the IBA the Bank of Year 2000-2004, while GLOBAL FINANCE conferred the IBA the same title in the period 2001-2005 among the developing markets.
