Bank Of Baku

IBA to decrease foreign debts by the end of 2011

IBA to decrease foreign debts by the end of 2011
# 03 June 2011 15:14 (UTC +04:00)
Baku. Elnur Huseynguluyev – APA-Economics. International Bank of Azerbaijan intends to decrease the foreign debts by the end of this year, Chairman of Board of Directors Jahangir Hajiyev informed.

According to him, the current foreign debt of bank is near $1 bln and this will be decreased gradually, by the end of this year: “in general, new additional loans are borrowed from abroad, as its foreign debt decreases. But these debts will be decreased by the end of this year”.

Remind that, IBA has been in operation since 1992.
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