The Azerbaijan State News Agency

ECONOMY

IBA assets grow 22%

Baku, February 4 (AZERTAC). The International Bank of Azerbaijan (IBA) has said its assets increased 21.7% in 2013.

IBA’s loan portfolio increased 30.5% compared to early 2012 and amounted to AZN 5.03 bn by 1 January 2014. Loans given to individuals reached AZN 555.3 million.

Retail deposits in the Bank by the end of 2013 amounted to AZN 1.6 bn. Their growth in 2013 made up 22.2%.

IBA`s total capital reached AZN 903.8 million that is by 25.5% more than by 1 January 2013. Last year the Bank’s revenues made AZN 474.2 million. IBA`s net profit, according to data by 1 January 2014, amounted to AZN 50.9 million with a rise of 17.3% against 2012. The authorized capital of the IBA reached AZN 475.04 million.

The number of active cards issued by the IBA by 1 January 2014 amounted to 2,484,882. The bank runs 690 cash machines and 4,951 POS-terminals.

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