International Bank of Azerbaijan’s net income increases by 80 percent
Azerbaijan, Baku, Jan. 24 / Trend /
The net income of the International Bank of Azerbaijan (IBA) for 2012 amounted to 43.4 million manat, increasing by 80 percent compared to the corresponding index of 2011, the bank said today.
IBA income increased by 7.1 per cent per year and hit 377.8 million manat on January 1, 2013.
The International Bank of Azerbaijan (IBA) was founded in January 1992. It is the largest bank in the country. The main shareholder is the Azerbaijani government, which owns 50.2 percent of shares, 49.8 percent owned by private and legal interests.
The official exchange rate is 0.7847 AZN/USD on Jan. 24.