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IBA recognized as the best bank in Azerbaijan by Global Finance magazine

Baku, Fineko/abc.az. Global Finance Magazine has recognized “the International Bank of Azerbaijan” OJSC to be the best bank in Azerbaijan.

According to the IBA, the winners have been selected by the commission comprised of the members of Global Finance editorial board, banking and financial consultants with participation of top management from the international companies and corporations.

The basic criteria for the winners selection were financial and economic indexes such as assets growth, profitability, strategic development, customer service, competitive advantages and innovative products.

Following the results of 2013, the IBA indexes significantly exceeded the figures of last years. Thus, the IBA assets increased by 21.7% and reached AZN 7.172 bn by January 1, 2014. The IBA loan portfolio has increased by 30.5% and makes AZN 5.033 bn. Household deposits made AZN 1.613 bn having increased by 22.2%.

Global Finance magazine has been published since 1987. The magazine circulation exceeds 50,000 and it’s read in 163 countries of the world. Global Finance headquarters is located in Washington with its branch offices operating in London, Rio de Janeiro and Milan.

The IBA established in 1992 is the largest bank in Azerbaijan. At present time 50.2% of the Bank’s capital is owned by the state, while 49.8% - by private shareholders.


07.04.2014 11:48


   


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