IBA assets jump
The International Bank of Azerbaijan (IBA) has said its assets increased by 21.7% in 2013. IBA's loan portfolio increased 30.5% compared to early 2012 and amounted to AZN 5.03 bln by 1 January 2014. Loans given to individuals reached AZN 555.3 million.
Retail deposits in the Bank by the end of 2013 amounted to AZN 1.6 bn. Their growth in 2013 made up 22.2%. IBA`s total capital reached AZN 903.8 million that is by 25.5% more than by 1 January 2013. Last year the Bank's revenues made AZN 474.2 million. IBA`s net profit, according to data by 1 January 2014, amounted to AZN 50.9 million with a rise of 17.3% against 2012.
The authorized capital of the IBA reached AZN 475.04 million.
The number of active cards issued by the IBA by 1 January 2014 amounted to 2,484,882. The bank runs 690 cash machines and 4,951 POS-terminals.
The IBA, established in 1992 as a successor of the Azerbaijani branch of Vnesheconombank, holds a leading position in the domestic banking sector. The main shareholder of the bank is the Azerbaijani government, which holds a 50.2 percent stake, and 49.8 percent is owned by private individuals and legal entities.
Here we are to serve you with news right now. It does not cost much, but worth your attention.
Choose to support open, independent, quality journalism and subscribe on a monthly basis.
By subscribing to our online newspaper, you can have full digital access to all news, analysis, and much more.
You can also follow AzerNEWS on Twitter @AzerNewsAz or Facebook @AzerNewsNewspaper
Thank you!