The International Bank of Azerbaijan (IBA)-Georgia will hold a general assembly of the shareholders on 30 January 2007.Trend Correspondent in Georgia informed that the agenda of the gathering includes changes to the Charter of the joint bank, election of the revision commission, as well as other organizational issues.
IBA-Georgia is a daughter bank of the biggest Azerbaijani commercial bank IBA. IBA bought its office building in Tbilisi (65, Kostava St.), which covers 1,398sq m of area) at $4mln. Earlier this building belonged to Saknavtobi state company. As per the results of 9 months of 2006, the gross revenue of the International Bank of Azerbaijan (IBA) reached AZN 120.6 mln ($137.5mln). The revenue of IBA amounted to nearly AZN 26.4 mln over the reported period. The increase equaled 216% and 238% as comprised with the same period of 2003
At present 45% of all assets of the banking sector of the country belongs to the IBA. In result of the 3rd quarter, the amount of the assets of the bank equaled AZN 1416.9 mln, an increase of 23.7% from the beginning of the year. The ROA co-efficient for the three quarters made up 2.06%.