Finance

Home page

Finance

IBA ranks among the 1,000 largest banks of the world

15 July 2011 15:45 (UTC +04:00)

Baku. Vahab Rzayev â€“ APA-Economics. Since early 2011 to the end of June, the assets of International Bank of Azerbaijan increased by 8% to AZN 4.951 bln that, these do not include the projects AZN 955 mln financed by bank via Central Bank of Azerbaijan.

Bank says loan portfolio rose 7% to AZN 3.153 bln and it makes 33% across the country. 60% of loan was given to private sector. Troubled loans make 5.5%.

Number of clients reached 767,000. Of this, 753,000 are individuals. Term deposit soared 16% to AZN 603 mln. Individualsâ€™ deposit is AZN 810 mln. Total liabilities have increased by 9% to AZN 4.26 bln, since early 2011.

Authorized capital made ANZ 240 mln, balance capital â€“ AZN 589 mln. Bank paid AZN 15 mln to the state budget during half year. Income stood at AZN 170.8 mln, pre-tax profit â€“ at AZN 14.4 mln.

Note that, IBA has highest international ratings among the countryâ€™s banks. Fitch Rating Agencyâ€™s rating for this bank is â€œBBB-â€œand it is equal countryâ€™s rating. Moodyâ€™s Investors Service Agencyâ€™s rating is Ba2 and it raised the forecast on rating to Positive. Besides, IBA has ranked 958th place among the worldâ€™s most sustainable banks in The Banker magazine.

The bank borrowed $ 250 mln from foreign sources and repaid $302.3 mln or 27.5 EUR liabilities during the half year.

Circulation on cards of bank made AZN 1.4 bln. Quantity of active cards is 1.8 mln units.