Azerbaijan, Baku / Trend corr I. Khalilova / The International Bank of Azerbaijan (IBA) has almost completed registering its representative office in Luxembourg, President of the bank, Jahangir Hajiyev, reported. A representative office of the IBA is planned to be opened in New York.
Moreover, registration of an IBA representative office is expected in the United Arab Emirates. "We have plans to turn our Dubai representative office into a branch bank," Hajiyev said.
IBA has its representative offices in London and Frankfurt, with branch banks in Moscow and Georgia. IBA-Moscow has its branches in Saint-Petersburg and Yekaterinburg. Ten branches will be opened in Moscow soon.
IBA occupying a dominating position in the bank sector of the country was founded in 1992. The State share in the statutory capital of the bank comprises 50.2%. The rest is divided among private juridical and natural persons.