IFC to render technical support in monitoring Azerbaijani bank’s risks
Baku, Azerbaijan, Nov. 12
By Azad Hasanli - Trend:
The International Finance Corporation will render technical support to Rabitabank in improving the monitoring system of internal audit and risks, the bank told Trend Nov. 11.
The monitoring will be carried out on the basis of the contract signed between the bank and IFC on November 6, 2014.
Rabitabank has been cooperating with the International Finance Corporation since 1997. The bank has been cooperating with the European Bank for Reconstruction and Development (EBRD) since 2006, while with the World Business Capital since 2008.
As of Sept. 30, the bank's assets amount to 260 million AZN, which exceeds the forecast as of late 2014 by 2.9 percent. The total capital reached 55 million AZN, deposits - 176 million AZN. The volume of loans delivered to the population is 199.8 million AZN.
Rabitabank has been operating on the banking market since 1993. The bank's controlling stake (86.1 percent) belongs to the chairman of the Rabitabank supervisory board Zakir Nuriyev. There are 22 branches and two offices of the bank in Baku and 16 districts of Azerbaijan.
The official exchange rate is 0.7844 AZN/USD.
edited by CN