IBA reduces assets by 20% in H1
BAKU. July 27 (Interfax) - International Bank of Azerbaijan (IBA) reduced its assets by 19.7% to 3.467 billion manat in the first half of 2009, the bank said in a press release.
The bank's loan portfolio as of July 1, 2009 came to 2.455 billion manat, which was a drop of 31.6% since the start of the year. This included total consumer lending at 356.731 million manat.
IBA's equity at the start of July came to 446.145 million manat, up 6.6% while charter capital had increased by 4.1% to 197.5 million manat.
IBA's net profit in the first half came to 62.189 billion manat.
IBA was set up in 1992. At present, the Azerbaijani government owns 50.2% of the bank's shares, while private shareholders hold 49.8%