IBA-Moscow draws 1.32 billion ruble loan
Azerbaijan, Baku, Aug. 9 / Trend /
The International Bank of Azerbaijan-Moscow (IBA-Moscow) closed its first club deal on July 22 to draw 1.32 billion rubles for one year, the bank said.
The interest rate on the club loan was 9.5 percent per annum.
The credit was drawn within a new development strategy for 2011-2015, adopted by "IBA-Moscow" in 2010. The bank plans to join Russia's top 100 banks within five years by increasing assets and equity.
IBA-Moscow is a subsidiary of the International Bank of Azerbaijan. It is the first and only bank in Russia with 100 percent Azerbaijani capital. The bank operates in Russia.