Int`l Bank of Azerbaijan completes Q1 with profit


April 15, Fineko/ The International Bank of Azerbaijan (IBA) summed up the results of its financial activity for the 1st quarter of 2019.

The IBA reports that its assets amounted to AZN 8.5 bn as of 31 March and capital positions strengthened even more during the quarter.

"At the end of the reporting period our loan portfolio totaled AZN 1.9 bn, and we gave loans and guarantees to individuals and legal entities in the amount of up to AZN 200 million," the Bank said.

IBA informs that the work carried out to improve the efficiency of its activity also had a positive impact on the profitability, as the IBA completed the first quarter with net profit of AZN 130.3 million. The net profit received from Bank's operating activity is AZN 85.1 million.