Azerbaijani major bank’s assets increased by over 11 per cent
Azerbaijan, Baku, April 27 / Trend /
Assets of the International Bank of Azerbaijan (IBA) increased by 11.3 per cent during the year and as of April 1, 2012 amounted to 5.229 billion manat, the bank said on Friday.
Loan portfolios of the IBA increased by 8.3 per cent during the year and hit 3.12 billion manat, 386.5 million manat of which accounts for consumer loans.
The IBA was founded in January 1992 and is the largest bank in the country. Its main shareholder is the Azerbaijani government, which owns 50.2 per cent of the shares, while 49.8 per cent is owned by private physical and legal bodies.
The official exchange rate is 0.7862 manat to $1 on April 27.