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ECONOMY

BALANCE REVENUES OF THE INTERNATIONAL BANK OF AZERBAIJAN INCREASED BY 75 PERCENT

22.07.2003 [11:17]
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The joint stock commercial bank “International Bank of Azerbaijan” has increased its balance revenues during January-June of 2003 by 75 percent compared to the same period of the last year. Revenues reached the level of 17,49 billion mantas.

The press-release of the bank reads, revenues of IBA in the first half of 203 come to 130,59 billion mantas as compared to 16,53 billion mantas during six months of 2002: at the expense of increase of commission income and revenues for services – 73,6 billion manats, interest rates on loans – 49,8 billion mantas and revenues from placing funds in foreign banks – 4,5 billion manats.

Assets of the IBA during January-June of 2003 come to 2,42 trillion manats as per compared to 2,23 trillion manats during six months of 2002.

The credit portfolio of the IBA in the first half of 2003 comes to 1,49 trillion manats, the amount of individual deposits – 0,47 trillion manats.

By July 1, reserves of the bank come to 0,29 trillion manats. The authorized fund of the bank is fixed at the level of 50 billion manats.

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