IBA’s assets increases 17.5 per cent

The assets of the International Bank of Azerbaijan (IBA) increased by 17.5 per cent per year and, as of January 1, 2013, reached 5.891 billion manat,Trend news agency reported on Friday referring to the bank.

IBA credit portfolio increased last year by 22.2 per cent and as of January 1, 2013 amounted to 3.856 billion manat. Loans given to individuals amounted to 436.2 million manat.

IBA's aggregate capital amounted to 720 million manat, or 40.4 per cent more compared to January 1, 2012. Authorised capital in 2012 increased by 37.8 per cent to 330.8 million manat.

As of late 2012, the coefficient of return on assets (ROA) was 0.82 per cent, return on equity (ROE) 9.21 per cent compared to 0.51 per cent and 3.52 per cent as of January 1, 2012, respectively.

IBA was founded in January 1992. It is the largest bank in the country. The main shareholder is the Azerbaijani government which owns 50.2 per cent of shares whilst 49.8 per cent is owned by private individuals and legal bodies.

The official exchange rate is 0, 7847 AZN/USD on Jan. 25.