IBA gets $192m central bank loan
The International Bank of Azerbaijan (IBA), the country’s leading bank, has received a five-year subordinated loan worth 150 million manats ($192 million) from the Central Bank of Azerbaijan.
The allocation will allow IBA to boost its capitalization and liquidity by using long-term state funding, the bank said.
IBA is the only Azerbaijani bank with state participation. The state-owned share is 50.2 percent.
IBA has a well-developed branch network and provides banking services to large corporate clients and, to a lesser extent, to individuals.
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