IBA Moscow gets $6m French loan
IBA Moscow, a subsidiary of the International Bank of Azerbaijan
(IBA), the country’s leading bank, has drawn a $6 million loan from
France’s VTB Bank SA, according to the IBA.
The loan was allocated for 360 days with LIBOR +5 annual interest
rate and is due February 21, 2011.
As of January 1, 2010, IBA’s assets amounted to about 15.3 billion
Rubles, while its capital made up almost 1.1 billion Rubles and the
liquidity coefficient nearly 2 billion Rubles.
IBA Moscow is the first and only bank in neighboring Russia
operating fully on Azerbaijani capital.*
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