SOFAZ: Implementation of IBA business strategy to begin this year
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By Trend
Implementation of the business strategy of the International Bank of Azerbaijan (IBA) will begin this year, executive director of the State Oil Fund of Azerbaijan (SOFAZ), Chairman of the IBA Supervisory Board Shahmar Movsumov told Trend Feb. 13.
He said that the preparation of the business strategy is underway with the involvement of an international consulting company.
The International Bank of Azerbaijan, founded in 1992, is at the stage of recovery since July 2015, which is associated with the preparation for the privatization of state-owned shares of the bank. To restore the bank's financial position, its distressed assets were transferred to the non-bank credit institution Aqrarkredit.