IBA attracts $200m syndicated loan
The state-owned International Bank of Azerbaijan gets $200 million syndicated loan from 18 international financial institutions.
The Baku based IBA announced that loan, which is for 365 days, will be used for corporate and trading purposes.
Citibank, ING Bank, Raiffeisen Bank International, UniCredit Bank helped organize deal, according to the report.
The Baku-based IBA is a universal bank with subsidiary banks in Russia, Georgia and Qatar, as well as representative offices in London, Frankfurt, Luxembourg, Dubai and New York. The bank, 50.2-percent owned by the Azerbaijani Ministry of Finance, holds over 40 percent of banking assets in the country.
The IBA‘s reported consolidated total assets of 8.8 billion manats, aggregate capital of 1.008 billion manats and net profit of 64.5 million under audited IFRS as at year-end 2014.
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