Privatization of IBA to be realized in 2 stages

Privatization of state’s share in authorized capital of the International Bank of Azerbaijan will be realized in 2 stages, chief of board of directors of IBA Jahangir hajiyev said.

To him, the stage I will involve consulting services, stage II – reception of offers and other works: "Consulting services will provide a consortium of companies Pricewaterhouse Coopers and Salaans & Rotsheld. Next stage will cover the participation of other banks in this privatization".

IBA invites foreign banks to participate in the privatization as well.

Note that, as of April 1, 2011, assets of IBA made AZN 4,696.638 mln, loan portfolio - AZN 2,879.706 mln, consumer loans – AZN 388.885 mln, deposit portfolio – AZN 1,911.060 mln, as well as volume of deposits – AZN 738.860 mln, total capital – AZN 514.985 mln, authorized capital – AZN 240 mln, total Q1 income – AZN 84.591 mln, expenses – AZN 77.983 mln, profit – AZN 6.608 mln.

Remind that, IBA has been in operation since 1992. State share in authorized capital of the bank is 50.2%, other 40% of the shares are a special property, 10% - belong to the labor collective of the bank.


/APA/