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Moodyâ€™s: IBAâ€™s capital will increase sharply

22 June 2011 12:34 (UTC +04:00)

Baku. Vahab Rzayev â€“ APA-Economics. Moodyâ€™s international rating agency thinks that, privatization of International Bank of Azerbaijan will influence the bankâ€™s rating positively, Agency said.

According to Agency, this process will cause increase of transparency and free power, improvement of corporative management and strengthening of bankâ€™s capitalization. At the same time, the privatization will support the improvement of competitiveness dynamics in banking sector and strengthening of total financial indexations of banks.

The advisers within the privatization process of IBA will make recommendations on conditions of privatization, support legally and technically, assess the stateâ€™s share in bankâ€™s authorized capital and help to involve the strategic investors. Note that, the adviser is a consortium consisting of PricewaterhouseCoopers Audit AzerbaijanÂ», Â«Salans UK Ltd.Â» and Â«Rothschild & CIE.

Agency says that, the privatization will be long-term process and it will not carry out in 2011. According to Agencyâ€™s expectations, bnakâ€™s capital will increase as a result of emission of shares.