IBA holds general shareholders' meeting

27.07.2016 [17:11]
The ordinary general shareholders' meeting of the International Bank of Azerbaijan OJSC (IBA) was held on July 26. The financial statement for the year 2015 recommended by the Audit Committee of the bank and approved by the external auditor was adopted during ...

Moody's affirms the rating of Bank of Baku

27.07.2016 [13:32]
Moody's Investors Service has today taken rating actions on Bank of Baku. Moody assigned long-term global local-currency and foreign-currency deposit ratings of B3 to OJSC Bank of Baku (Bank of Baku), ...

International Bank of Azerbaijan increases number of payment cards

25.07.2016 [17:06]
The International Bank of Azerbaijan (IBA) strengthened its positions on the payment cards market, the number of which achieved 1,286,100 on July 1. During the last year, the IBA significantly improved its service quality and efficiency of its ATM network ...

SOFAZ sells $50 mln to 26 banks

21.07.2016 [13:01]
Today, the State Oil Fund of Azerbaijan Republic (SOFAZ) has put up for sale 50 mln USD. According to SOFAZ, the auctions will continue. ...

IBA among world’s 1000 largest banks

19.07.2016 [17:13]
British magazine “The Banker” included the International Bank of Azerbaijan (IBA) in the TOP-1000 of the most powerful and financially sustainable banks in the world. According to the ranking, the IBA is among TOP-25 of the best banks within the Central and ...

AccessBank Azerbaijan attracts $17m funding from BSTDB

13.07.2016 [19:27]
The Black Sea Trade and Development Bank (BSTDB) is providing a $17 million senior loan facility to AccessBank for supporting the development of SME business in Azerbaijan. On behalf of AccessBank, CEO Michael Hoffmann commented: “We highly ...

ADB approves $750 million loan facility to lift power reliability in Azerbaijan

12.07.2016 [11:40]
The Asian Development Bank (ADB) has approved a $750 million multitranche program loan facility to upgrade power distribution networks in Azerbaijan that will benefit over 1.4 million consumers and give the wider economy a lift by providing ...

AccessBank wins Euromoney “Azerbaijan’s Best Bank” award for sixth time

08.07.2016 [16:55]
AccessBank has been awarded “Azerbaijan’s Best Bank” by “Euromoney”, one of the most prestigious international financial journals at its annual Awards For Excellence Ceremony in London on Wednesday, 06 July 2016. It is for the sixth time since 2010 that AccessBank has received this prestigious award ...

SOFAZ sells $50 mln to 29 local banks

08.07.2016 [13:33]
The State Oil Fund of Azerbaijan (SOFAZ) sold $50 million to 29 local banks at the auction held by the Central Bank of Azerbaijan (CBA), SOFAZ said. SOFAZ had offered $50 million for sale through the auction ...

European Investment Bank to allocate credit line for Accessbank

06.07.2016 [14:01]
The European Investment Bank (EIB) is ready to open a second credit line for Accessbank Azerbaijan. EIB reports that the size of the credit line SMES II will be about 20 million euro. Within cooperation with ACCESSBANK Azerbaijan the EIB signed a loan agreement ...

Important information for AZAL passengers departing from Baku

04.07.2016 [16:38]
Due to the start of the summer holiday season and increased workload of the Heydar Aliyev International Airport, as well as increased security measures, Azerbaijan Airlines (AZAL) recommends its passengers departing from Baku to arrive in check-in counters 3 hours ...

SOFAZ sells $50M to 29 banks

30.06.2016 [13:48]
The State Oil Fund of Azerbaijan (SOFAZ) sold $50 million to 29 local banks at the auction held by the Central Bank of Azerbaijan (CBA), SOFAZ said on June 30 ...

SOFAZ sells $50M to 31 banks

28.06.2016 [12:37]
The State Oil Fund of Azerbaijan (SOFAZ) sold $50 million to 31 local banks at the auction held by the Central Bank of Azerbaijan (CBA), SOFAZ said. ...

Azerbaijan International Insurance Forum kicks off in Baku

23.06.2016 [12:12]
The seventh Azerbaijan International Insurance Forum has kicked off in Baku. The event is supported by Financial Markets Supervision Authority of Azerbaijan and organized by Azerbaijan Insurers Association ...

Presidential assistant: Stabilization is observed on currency market

22.06.2016 [17:32]
“Stabilization is observed on the currency market,” Natiq Amirov, the Azerbaijani presidential assistant on economic reforms said. He made the remarks during “Social business – a way for development” conference. “Oil price decline, negative impact of global financial processes on banking sector ...

AZPROMO, Bank VTB (Azerbaijan) sign Memo of cooperation

21.06.2016 [11:35]
As was informed earlier, prospects to boost the Azerbaijani-Russian economic relations were thoroughly mulled in Baku, as the capital hosted the business forum on June 20, with participation of about 200 companies engaged in light, heavy and food industries, as ...

ADB supports steps taken to provide stability of financial sector in Azerbaijan

13.06.2016 [11:43]
Asian development Bank supports the necessary steps taken to provide the ongoing reforms and stability in the financial sector in Azerbaijan. This was stated at the meeting of the delegation led by Matthew Fox, Executive Vice President ...

EBRD implemented 30 projects worth $270m in Azerbaijan

25.05.2016 [17:56]
“The European bank for reconstruction and development (EBRD) implemented 30 projects worth $ 270 million in Azerbaijan. We are interested in developing cooperation with Azerbaijan in oil and non-oil sector,” said President of the EBRD Suma Chakrabarti at a press conference as he visited the country ...

Azerbaijan, IMF launch Article IV consultations

20.05.2016 [18:00]
The government of Azerbaijan and the International Monetary Fund (IMF) have embarked on Article IV consultations as Finance Minister Samir Sharifov met with head of the International Monetary Fund (IMF) mission on Azerbaijan Mohamed El Gorchi. The IMF`s country surveillance is an ongoing process ...