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IBA turnover on plastic cards increases by 40 million manat in 2010

Business Materials 31 January 2011 17:50
The International Bank of Azerbaijan (IBA) issued more than 223,000 cards in 2010, the bank said on Monday.
IBA turnover on plastic cards increases by 40 million manat in 2010

Azerbaijan, Baku, Jan.31 / Trend N. Ismayilova /

The International Bank of Azerbaijan (IBA) issued more than 223,000 cards in 2010, the bank said on Monday.

At present, the number of the bank's active cards is around 1.8 million units. The volume of card transactions increased to 40 million manat during the year, amounting to 2.7 billion manat. In 2002, the number of the bank's cards was only 28,000 units, while the turnover on them hit $71 million.

"Having [our] own processing center allows improving the quality of customer services and provides new products which meet modern requirements," the bank said.

IBA's ATM network covers over 50 cities, including Baku, Nakhchivan, Sumgayit, Ganja, Shirvan, and Mingachevir, and consists of 605 ATMs. Also, 65 information kiosks offering all card transactions except cash were installed in Baku.

IBA is also improving the acquiring system. So far, over 2,500 sales points and service points have been involved in map service, conditions have been created for using cards in shops, restaurants and hotels.

The official exchange rate is 0.7966 manat to $1 on Jan. 31.

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