International Bank of Azerbaijan Once again Named One of Top 1000 World Banks
The International Bank of Azerbaijan (IBA) is included, as rated by the British magazine The Banker, among the 1,000 largest and most stable banks in the world, and took the position of the 910 largest tier one capitals, the bank said. In comparison with the previous ratings that of IBA rose by 28 positions.
According to the rating of IBA magazine ranked the 768th position in terms of assets, the 734th position on the capital adequacy ratio (Soundness: capital assets ratio) and the 246th position on the return on capital (Performance: profits on capital). In terms of return on assets (Performance: return on assets) bank took the 464th position.
The Banker is a specialized monthly magazine published in London and dedicated to international finance. The publishing house is owned by The Financial Times Ltd. -15D-
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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