ECONOMY
IBA SUMMARIZES THIRD QUARTER
The International Bank of Azerbaijan /IBA/ earned 121,655 billion manats in the third quarter of 2004 against approximately 82,268 billion manats for the corresponding period of the last year, IBA press-service told AzerTAj.
The IBA commission for services and plastic card transactions made 56,112 billion manats and 6,941 billion manats respectively. The Bank expenditures were 103,511 billion manats that is 33,905 billion more than in 2003. Of this IBA 23,719 billion manats were spent on interest payments. The IBA profited 18,144 billion manats in the third quarter against last year’s 12,662 billion. Its credit portfolio amounts to 2 trillion 029,876 billion manats while it was 1,174 trillion last year. Balance capital constituted 201,866 billion manats, IBA’s assets for three quarters reached 4 trillion 018,172 billion against last year’s 2 trillion 304,123 billion.
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