Int’l Bank of Azerbaijan to be privatized in 2018

12:05 - 23 November 2017

November 23, Fineko/ The measures aimed at improving the assets of International Bank of Azerbaijan (IBA) has entered the final stage.

At the 2nd Banking Forum "Reforms, Results, & Prospects" chief executive director of the Financial Market Supervision Chamber Ibrahim Alishov said that since early 2017 about 4.3 bn of IBA toxic assets IBA have been transferred to company Agrarkredit.

"As a result of the taken measures, Bank's assets fell from AZN 13 bn to AZN 7 bn and the IBA’s share in the country’s banking sector from 41% to 27%," Alishov said.

He aded that the IBA will be put up for privatization in 2018.