The assets of the bank IBA-Moscow (a subsidiary of the International Bank of Azerbaijan) by July 1, reached 34 billion 734 million Russian rubles (RUR), or $ 1 026 420 000 at the rate for that day. This is 13.6% higher than the same period last year, according to the press service of the financial entity.
The bank's equity to the said date was 3 180 million RUR, gross income - 652 320 000 RUR, and its net interest income was 486 700 000 RUR. The commission income amounted to 197.4 million RUR, and its net non-interest income was 154.9 million RUR.
The loan portfolio was 25,340 mln. (+ 9% compared to July 2013), in the context of which a large portion belongs to loans for legal entities - 21 742 million RUR, and loans for individuals are 3 598 million RUR.
LLC IBA-Moscow was founded in 2002. Because it is universal, it ranks in the top 150 largest Russian financial institutions. The bank’s network includes offices in Moscow, St. Petersburg and Yekaterinburg. --17D-
Economics
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Fitch Ratings has upgraded Azerbaijan’s long-term foreign currency issuer default rating (IDR) from “BB+” to “BBB-,” signifying an investment-grade status with a stable outlook. Despite this positive move, the agency highlighted several economic hurdles that could impact the country's progress.
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The number of overnight stays in hotels and hotel facilities in Azerbaijan surged by 35.8% in the first half of 2024 compared to the same period in 2023, reaching 1.851 million, according to the State Statistics Committee of Azerbaijan.
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Azerbaijan will unveil a unified electronic portal for real estate early next year, according to Nigar Alimova, Chairman of the Board of the State Cadastre and Real Estate Register at the State Property Service of the Ministry of Economy.
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AzerGold CJSC’s sorption leaching plant, located at the Chovdar Integrated Regional Processing Site (CHIRUP) in Dashkesan district, has commenced full-scale operations, the Ministry of Economy announced.
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