IBA, Sberbank of Russia sign memorandum of understanding and cooperation agreement

IBA, Sberbank of Russia sign memorandum of understanding and cooperation agreement

Baku, Azerbaijan, Jan. 23

Trend:

At the World Economic Forum Annual Meeting in Davos, the International Bank of Azerbaijan (IBA) and Sberbank of Russia and have signed a memorandum of understanding and cooperation agreement, IBA said Jan. 23.

The document was signed by Jahangir Hajiyev, Chairman of the Board of IBA and Herman Gref, Chief Executive Officer and Chairman of the Board of Sberbank of Russia.

The areas of cooperation specified in the memorandum include participation of the parties in the co-financing of investment projects; the organization of trade financing in the Republic of Azerbaijan and Russia, as well as in third countries, where subsidiaries and branches of the parties are located, and; cooperation in the financial markets.

The International Bank of Azerbaijan (IBA) is the largest bank in Azerbaijan and the region, with assets of nearly $12 billion. It serves as a national development bank supporting the stability of Azerbaijan's banking system, the socio-economic development of the country and its integration into the global economy and is 50.2 percent state owned. IBA is a universal bank with a national franchise, subsidiary banks in Russia and Georgia and international representative offices in London, Frankfurt, Luxembourg, Dubai and New York.

Sberbank of Russia is Russia's largest bank and a leading global financial institution. Sberbank holds almost one third of aggregate Russian banking sector assets and is the key lender to the national economy and the biggest deposit taker in Russia. The Central Bank of the Russian Federation is the founder and principal shareholder of Sberbank, owning 50% of the Bank's authorized capital plus one voting share, with the remaining 50% held by domestic and international investors. Sberbank has more than 110 million individual customers and 1 million corporate clients in 22 countries. Sberbank has the largest distribution network in Russia with more than 17,000 branches, and its international operations include UK, US, CIS, Central and Eastern Europe, Turkey and other countries.

Azerbaijan to be telecommunication hub between Europe, Asia via TASIM implementation
Azerbaijan to be telecommunication hub between Europe, Asia via TASIM implementation
Average downloads speed in Azerbaijan reduce
Average downloads speed in Azerbaijan reduce
Italy-based omnichannel content solutions provider extends co-op with Azerbaijani Topaz
Italy-based omnichannel content solutions provider extends co-op with Azerbaijani Topaz
Loading Bars
Latest
Azerbaijan looking to create favorable conditions for Turkish investors
Geostat reveals volume of gas imported by Georgia from Azerbaijan
Uzbekistan reveals COVID-19 data for January 21
Kazakhstan’s national atomic company reports COVID-19 cases at its JV with France
Presidents of Azerbaijan and Turkmenistan hold online meeting
Azerbaijan ups trade turnover of food, beverages, tobacco products in 2020
Suicide attack kills three, injures 16 in central Baghdad market
Azerbaijan to be telecommunication hub between Europe, Asia via TASIM implementation
Bank Melli Iran unveils amount of loans issued for coronavirus pandemic
Kazakhstan’s National Bank sets up monetary policy committee
Turkmenistan begins harvesting first tomatoes in new year
Azerbaijani oil prices rising
Kazakhstan multifold decreases imports of Brazil-made goods
Kazakhstan reports decrease in raw sulfur production volume
Azerbaijan discloses volume of oil transportation via BTC pipeline in 2020
Turkish companies to initially invest in textile sector in Azerbaijan's Karabakh
Azerbaijani currency rates for Jan.21
Gold and foreign exchange reserves increases in Uzbekistan in 2021
Iran discloses amount of investments made in petrochemical sector
Azerbaijan's 'Regional Development' Public Association launches new portal (VIDEO)
Trading platform IG to buy U.S. brokerage tastytrade for $1 billion
Turkmenistan among top three countries in terms of potato imports from Russia
Representatives of Turkish companies arrive in Azerbaijan to support restoration of liberated lands (PHOTOS)
Average downloads speed in Azerbaijan reduce
Google and French publishers sign agreement over copyrights
Visit agenda of Iranian Foreign Minister to Azerbaijan revealed
COVID-19 disrupts supplies of essential goods and food to Uzbekistan
Georgia sees increase in coronavirus cases
Azerbaijan's territorial waters serve to increase country's maritime transport potential
Azerbaijan starts preparation for 'Kharybulbul' festival, Days of Vagif's Poetry in Shusha (PHOTO)
Georgia increases imports of tea from Azerbaijan
Geostat reveals volume of gas imported by Georgia from Azerbaijan
Details of Iran's tractor exports announced
Indo-Japan digital partnership: Co-creation, co-production and co-innovation is the future
India produced COVID-19 vaccines reach Bhutan, Maldives; Sri Lanka, Afghanistan next in line
Serbia may get Azerbaijani gas by 2023
The 'superpower' that led this woman to the top of Twitter's Asia-Pacific business
Uzbekistan’s national bank to fund reconstruction of Termez int’l airport
Kamala Harris' ancestral village rejoices with fervour as 'she scripts history'
Ninety-Two countries post request for Made-in-India vaccines
Iran issues several loans to manufacturing enterprises in Semnan province
Turkmenistan, UNDP to launch new joint project
Trend TV prepares video report on water supply to Karabakh
BP to see sharp fall in upstream capex
Canada to implement drip irrigation project in Uzbekistan
Kazakhstan sees multifold decrease in exports to Singapore
Brexit responsible for food supply problems in N.Ireland
Global oil & gas capex to increase by 6% in 2021
Iranian Energy Exchange announces products to be on sale on January 23
Kazakhstan’s Ulba Metallurgical Plant to buy pies via tender
Turkmenistan, IMF review country's economy sectors positively impacting GDP growth
Construction of small solar power plant starts in Uzbekistan’s Tashkent region
Iranian currency rates for January 21
Azerbaijani FM starts visit to Turkmenistan
Italy-based omnichannel content solutions provider extends co-op with Azerbaijani Topaz
Azerbaijani Balakan ferry repaired and put into operation
JOCAP reveals plans for Absheron gas field in 2021
Kazakhstan’s freight transportation operator opens tender to rent vehicles
Absheron EPS progress: pipe laying in Oil Rocks vicinity kicks off – JOCAP
Azerbaijan to get revenues also from third countries’ gas supplies via Southern Gas Corridor
Azerbaijan's CBA signs contract for purchase of banknote-calculating machines
Iran urges US to return JCPOA
Oil slips on surprise rise in U.S. crude stocks
Population of Azerbaijan continues to grow
Kyrgyzstan plans to approve concept of creative economy
EU leaders convene amid vaccine delays, virus variant fears
California first U.S. state to surpass 3 million COVID-19 cases
China sees rise in new COVID-19 cases despite curbs
EBRD, Turkmenistan to implement new joint projects in 2021
Largest gas refinery in Middle East to be unveiled in SW Iran
UN chief welcomes U.S. re-engagement with WHO
Biden reverses U.S. withdrawal from WHO
Kazakhstan unveils 11M2020 trade value with Turkey
France's daily COVID-19 cases hit two-month high
UK records highest daily coronavirus death toll
Israel registers 9,089 new COVID-19 cases, 574,718 in total
Portugal experiences worst day of COVID-19 pandemic
Iran ready to build Herat-Mazar-i-Sharif railway: Roads min.
Tourism becomes key source of foreign-exchange earnings in Georgia
Georgian domestic exports up 3.5%
Amazon sues EU antitrust regulators for letting Italian case go ahead
Korean logistics company ULP invited to invest in Kyrgyzstan
Turkey reports over 6,400 new coronavirus cases
Kyrgyzstan's Central Election Commission approves election results
UAE signs deal with U.S. to buy 50 F-35 jets and up to 18 drones
WHO chief congratulates Joe Biden and Kamala Harris on their inauguration
Qatar reports 271 new COVID-19 cases, 148,000 in total
Over 40 dead after migrant boat capsizes off Libya: UN agencies
Joe Biden sworn in as 46th President of the United States
Kazakhstan to develop strategies to ensure financial stability in banking sector
Iran’s FM to visit Azerbaijan
COVID-19 vaccinations in Turkey exceed 1 million in 1st week
CBI Governor says part of Iranian frozen assets released
Georgian Parliament calls Pension Agency Head for transparency
Kyrgyzstan receives COVID-19 diagnostic reagents from Russia
Trump leaves Washington, skips incoming president Biden's inauguration
Blast rocks building in downtown Madrid
Azerbaijan shows footage from Nadirkhanli village of Kalbajar district (PHOTO/VIDEO)
Africa’s COVID-19 death toll tops 80,000, reports WHO
French online newspaper publishes article about January 20 tragedy
All news