IBA raises 1.6B manats from Azerbaijan's Central Bank
Baku, Azerbaijan, Jan. 18
By Azad Hasanli – Trend:
The International Bank of Azerbaijan (IBA) raised 1.6 billion manats from the country’s Central Bank (CBA) over three years, according to a message posted on the Electronic System for Information Disclosure.
The message says that the IBA raised 600 million manats from the CBA in 2016, 650 million manats – in 2015 and 350 million manats – in 2014.
Meanwhile, the IBA raised 140.86 million manats from local banks in 2016 and 695.9 million manats – from foreign banks. Moreover, the State Oil Fund of Azerbaijan (SOFAZ) placed a deposit worth 1.77 billion manats in the IBA in 2016.
In total, the bank raised 2.13 billion manats inside Azerbaijan, almost four billion manats – from the countries of America and Europe, 36 million manats – from Russia.
The International Bank of Azerbaijan was founded on Jan. 10, 1992.