On July 16, 2013 auction of the bonds of International Bank of Azerbaijan (IBA) Moscow started at the Moscow Stock Exchange.
The issue of bonds to the amount of 3 billion rubles was fully placed on June 20, 2013 with 1.5 annual offer and repayment of 3 years. The rate of the first three coupons constituted 10.75%.
The issue has a long-term international rating in the national currency “BB” (stable) from Fitch Ratings. The public irrevocable offer was submitted by the International Bank of Azerbaijan (IBA), mother bank of IBA-Moscow.
IBA-Moscow LLC (general license No 3395 issued by the Russian bank) was established in 2002 as 100% daughter organization of IBA. IBA-Moscow is a universal bank, which is among the Top 150 big Russian credit and financial institutions. By July 1, 2013 assets of IBA-Moscow totaled 30.6 billion rubles, while credit portfolio – 23.3 billion rubles and its own capital – 2.62 billion rubles. The International rating agency Moody’s Investor Service gave the bank a credit rating B3. Moody’s Interfax rating agency gave IBA-Moscow a long-term rating Baa3.ru on the national scale.—0--
Economics
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Azerbaijan's financial standing continues to strengthen as the country's foreign currency reserves have surged to $71 billion as of January 1, 2025, according to the Ministry of Finance. This figure, which includes reserves held by the State Oil Fund of Azerbaijan (SOFAZ) and the Central Bank of Azerbaijan (CBA), far exceeds the nation's external debt, which stands at a fraction of its reserves, specifically nearly 14 times less. This robust reserve position reflects Azerbaijan's fiscal stability and the government’s strategic economic management.
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According to operational data from the Ministry of Energy of Azerbaijan, in January 2025, the country produced 2.3 million tons of oil, including condensate, and 3.9 billion cubic meters of gas.
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The State Oil Company of Azerbaijan (SOCAR) has opened a representative office in Albania and is set to launch a specific project this year, the Albanian company "Albgaz" announced.
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"Azerbaijan is currently among 54 middle-income countries," said Shahmar Movsumov, head of the Economic Affairs and Innovative Development Policy Department of the Presidential Administration, during the presentation of the World Bank’s World Development Report 2024 in Baku on February 10.
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