Restructuring of Int’l Bank of Azerbaijan’s obligations not to affect its subsidiaries (UPDATE)

Details added (first version posted on 13:03)

Baku, Azerbaijan, May 15

Trend:

The process of restructuring the currency obligations of the International Bank of Azerbaijan (IBA) will not affect its IBA-Moscow and IBA-Georgia subsidiary banks, the IBA told Trend May 15.

According to the message, both subsidiaries do not have foreign obligations.

"IBA-Moscow and IBA-Georgia comply with all regulatory requirements of the central banks of the countries where they operate,” the bank said. “The financial indices of IBA-Moscow and IBA-Georgia exceed all requirements of the central banks of both countries."

“IBA-Moscow and IBA-Georgia successfully fulfill their obligations to customers,” the message said.