The International Bank of Azerbaijan (IBA) has earned 319 million manats worth of profits in the first 9 months of 2018.
These indicators reflect such positive trends in the bank’s activities, as successful completion of the recovery process and the transition to a new stage of development.
As of September 30, the assets of IBA amounted to 8.32 billion manats, and the balance capital was 1.28 billion manats, the bank said in a statement on October 15.
As of the end of the reporting period, the bank’s loan portfolio amounted to 1.7 billion manats, and the volume of deposits of the population – to 1.22 billion manats. During this period, the bank provided guarantees and loans worth about 200 million manats to the real sector of the country’s economy.
The improvement of the efficiency of activity of the International Bank of Azerbaijan has had a positive impact on the bank’s profit as well. During the reporting period, the interest incomes amounted to 308 million manats. The bank’s operating incomes amounted to 87 million manats, and fully covered the non-interest expenses.
The International Bank of Azerbaijan has also launched a number of new projects on the country’s financial market.
These projects strengthened the market position of the bank and covered such client segments as large corporate entities, small and medium-sized businesses, and individuals. (Trend/Business World Magazine)
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