International Bank of Azerbaijan, Russian Sberbank ink MoU
Baku, January 23, AZERTAC.
The International Bank of Azerbaijan (IBA) and Sberbank of Russia have signed a Memorandum of Understanding and Cooperation at the World Economic Forum Annual Meeting in Davos.
The document was signed by Jahangir Hajiyev, Chairman of the Board of IBA and Herman Gref, Chief Executive Officer and Chairman of the Board of Sberbank of Russia.
Under the MoU, the two banks will co-finance investment projects, ensure the financing of trade in Azerbaijan, Russia and third countries, where the banks have their subsidiaries and branches, and cooperate on the financial markets.
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