The British magazine The Banker has included the International Bank of Azerbaijan (IBA) in the list of 1,000 most powerful and sustainable banks in the world.
According to the ranking, the IBA is among TOP-25 of the best banks within the Central and Eastern Europe region based on assets volume, capital adequacy, ROA and ROE. “The Banker” also mentions that the country for the first time entered this regional TOP-25 ranking, along with Banca Transilvania and Bank of Georgia. IBA also ranked 4th in the Central and Eastern Europe region by Tier 1 Capital growth.
Note that on the results of 2015 IBA’s unallocated loss reached 744.7 million AZN. Over the past year the bank's assets increased due to the state aid by 48% and reached 13 billion 657 million AZN. This year, the bank did not disclose the financial statements. --08D-
Economics
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On 21 December, Russian Transport Minister Roman Starovoit met with Azerbaijani Minister of Digital Development and Transport Rashad Nabiyev at the Russian Ministry of Transport.
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Hundreds of trucks are stuck in the Kazakh port of Kuryk, facing delays for several days while waiting for ferry transport to Azerbaijan, the Azakhstan portal reports lada.kz. The backlog is due to a combination of reduced ferry availability, adverse weather conditions, and an influx of cargo rerouted because of expanded sanctions on Russia.
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Members of the Association of Independent Industrialists and Businessmen (MÜSIAD) have invested 61.3 million manats in Azerbaijan's economy over the past three years, Rashad Jabirli, chairman of "MÜSIAD Azerbaijan," revealed during a media briefing.
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While the global economy faces persistent challenges, trade between China and Azerbaijan has defied downward trends, demonstrating significant growth. According to official statistics from Azerbaijan, bilateral trade in 2023 reached 3.1 billion US dollars. In just the first ten months of 2024, trade volume increased by 17.1% year-on-year, reaching 3.02 billion US dollars, putting the annual trade figure on track to hit a record high.
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