The International Bank of Azerbaijan's assets in the first half of 2016 rose to 14 billion 192 million 38 thousand manat (3.9%).
According to the report published on the official website of the bank, the liabilities of IBA increased by 5.2%, amounting to 13 billion 623 million 433 thousand manat.
The bank's capital decreased by 20.3% to 568 million 947 thousand manat.
Loss of the bank for the period amounted to 344 million 158 thousand manat.
According to the report, IBA became an entire owner of the Baku football club Inter, whereas previously the bank's share in the club’s capital was 20%.
IBA transferred problem loans to CJSC Agrarkredit – AZN 9 billion 930 million. -----71D
Economics
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Azerbaijan President Ilham Aliyev has signed a decree to strengthen social protection for pensioners by implementing pension indexation, effective from January 1, 2025.
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The Italian government has extended the deadline for applications in the international tender for the sale of several strategic assets until February 14, confirming that a bidder from Azerbaijan remains among the frontrunners.
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An investigation led by Ghalib Toghrul, Chairman of the Board of the Center for Economic Research, has highlighted budgetary expenditures in the Azerbaijani districts of Aghdam, Fuzuli, and Khojavend, focusing on civil service projects linked to the reconstruction of territories liberated from Armenian occupation.
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On February 4, Azerbaijani Economy Minister Mikayil Jabbarov met with a delegation of the International Monetary Fund (IMF) led by Anna Bordeaux, head of the IMF mission in Azerbaijan, to discuss economic cooperation, financial sector issues and structural reforms, the ministry said.
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