IBA-Georgia assets for year rose by 40%
Baku, Fineko/abc.az. Assets of JSC International Bank of Azerbaijan-Georgia (IBA-Georgia), a subsidiary bank of OJSC International Bank of Azerbaijan in the neighboring country, according to data as of 1 July 2012, amounted to 86.7 million lari with an increase of 40% against the last year’s same term.
According to the IBA press service, the loan portfolio of IBA-Georgia amounted to AZN 66.9 million lari against 39.5 million lari in the first half of 2011. Thus, the annual growth of the index was equal to 69.5%.
"The positive trend of increasing the number of Bank’s customers remains. Thus, the number of legal entities and individuals of bank IBA-Georgia as of 1 July 2012 amounted to 1,379 (an increase for the year amounted to 59.6%). Bank’s deposit portfolio increased by 25% and reached 53.3 million lari," it was informed.
Net profit amounted of IBA-Georgia by 1 July 2012 totaled 1.4 million lari and authorized capital 22.7 million lari.
IBA-Georgia received state and tax registration in 2006. Later, on 7 February 2007 the National Bank of Georgia issued license to IBA-Georgia for start of banking operations.
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