IBA's assets up by 25 pct
By Nazrin Gadimova
The assets of the International Bank of Azerbaijan (IBA) increased by 25 percent compared to the third quarter of 2012, reaching 6.88 billion manats, the bank reported.
According to the report, the IBA's loan portfolio increased by 35 percent compared to the third quarter of 2012, reaching 4.86 billion manats. Loans to individuals also amounted to 540.4 million manats.
Moreover, allocations to the bank stood at 1.526 billion manats in the third quarter of 2013.
The total capital of the bank amounted to 773.5 million manats, which is 30.2 percent higher than October 1, 2012. The authorized capital of IBA reached 368.33 million manats, while the net income stood at 36.6 million manats.
The number of IBA's active cards, ATMs and POS-terminals hit 1,977,472, 683, and 4907 unit, respectively.
The IBA was established in 1992 as a successor of the Azerbaijani branch of Vnesheconombank. The IBA holds a leading position in the domestic banking sector. The main shareholder of the bank is the Azerbaijani government which owns 50.2 percent of the shares, while 49.8 percent is owned by private individuals and legal entities.
As of July 1, 2013, the total capital of the IBA reached 765.56 million manats, which is 61.4 percent higher than the figure posted on July 1, 2012.
The authorized capital of the IBA currently amounts to 368 million manats.
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