Azerbaijan, Baku, May 2/ Trend /
Third Vienna Bank Forum of CIS and Eastern Europe and 20th conference of Banking Association for Central and Eastern Europe (BACEE) for country and bank risks took place in Vienna on April 23-25. The International Ban of Azerbaijan was conferred first international banking award "Platinum Key" for remarkable contribution to the development of national banking system according to the Experts Council assessment, the bank said.
Bank's director Jahangir Hajiyev said in his remarks that political and economic stability in Azerbaijan is the reason behind bank's success.
Award "Platinum Key" was established in 2008 upon the initiative of the heads of banking associations of several European states and CIS countries. Holders of Platinum key may be individuals and organizations that have achieved high results in the field of banking, banking technology, and creating an enabling environment for development of banks and national banking systems. The main purpose of the establishment of the award was to stimulate high levels of financial and banking activities, promotion of promising financial and investment programs and projects, as well as the promotion of new innovative ideas in the CIS, Central and Eastern Europe.
"Platinum key" was presented to five banks at awarding ceremony. Expert assessment of the winners was conducted by a special council composed of the heads of banking associations of European countries by a secret ballot. The main criteria for selection of winners were innovation in the organization's activities, growth rates, special achievements, as well as a significant contribution to the development of the industry and integration into the world community. Given the conditions prevailing in the global economy, it was decided to take into account not only contribution to the development of the national banking system but also advances in anti-crisis measures while selecting banks to be awarded.
The event was organized by BACEE, International Banking Board, Finance and Banking Council of the CIS and Association of Russian Banks.
The event was attended by about 200 representatives of the financial institutions and organizations from more than 20 countries of the CIS, Central and Eastern Europe, including Britain, Austria, Italy, France, Germany, Bosnia-Herzegovina, Serbia, Kazakhstan, Ukraine, Azerbaijan, etc. The guests exchanged views and experience on management in the global financial crisis, taking into account national circumstances outside the banking system and international challenges and risks.
IBA holds the highest rating in Azerbaijan from international rating agencies Fitch (BB +) and Moody's (Baa2). In April 2009, the bank has been awarded "Best Bank in the Developing Markets Worldwide" by the magazine "Global Finance" (New York), and "Best Bank in the CIS, Central and Eastern Europe" by the journal emeafinance (London). In addition, in February 2009, the success of the IBA has been highly appreciated by the Board of Directors of the European Economic Chamber of Trade, Commerce and Industry (EEIG) and the IBA was recognized as the most stable bank in the crisis in the European region.
Do you have any feedback? Contact our journalist at: [email protected]