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IBA among 50 largest CIS banks

Business Materials 12 July 2011 19:07
The International Bank of Azerbaijan (IBA), according to the Ria-Analytic Economic Analysis Center, has entered the list of the top 50banks in the CIS, IBA spokesman Rauf Agayev said on Tuesday.
IBA among 50 largest CIS banks

Azerbaijan, Baku, July 12 / Trend/

The International Bank of Azerbaijan (IBA), according to the Ria-Analytic Economic Analysis Center, has entered the list of the top 50 banks in the CIS, IBA spokesman Rauf Agayev said on Tuesday.

"Recently, Ria experts held research of the CIS countries' banking system. The analysis was carried out on the basis of official bank statistics data and banks' reports from open sources," Agayev said.

As a result, there was held an assessment of the volume of the banks' non-consolidated assets for Jan.1, 2011. Rating of CIS countries' and Georgia's 100 largest banks was made for Jan.1, 2011 on the basis of these assessments.

The rating included the banks form 7 countries: Russia, Ukraine, Kazakhstan, Azerbaijan, Belarus, Georgia and Uzbekistan. The experts say other 5 CIS countries (Armenia, Kyrgyzstan, Moldova, Tajikistan and Turkmenistan) do not have enough volume assets necessary to be included in the rating.

The Russian banks occupied the first 8 lines of rating and Belarus Bank received the 9th. Russia has the largest number in the rating-69 banks out of 100 included in the rating are registered in Russia. The Russian banks' summary assets in the rating made $874bln which makes over 80 percent of summary assets of the banks in the rating.

The assets of the banks presented in the rating increased by 15 percent in dollar equivalent in 2010. An increase of assets was recorded in 78 banks and decrease - in 22 banks among CIS's 100 largest banks.

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