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International Bank of Azerbaijan-Georgia

The International Bank of Azerbaijan-Georgia ("IBA-Georgia" for short) is a subsidiary bank of the International Bank of Azerbaijan located in Tbilisi, Georgia, founded in 2007.[4] It is one of three Azerbaijani banks operating in Georgia.[5] The bank is a member of the Association of Banks of Georgia.[6]

History

According to the United States - Azerbaijan Chamber of Commerce, the bank was founded with 100 percent foreign capital. Initially, $7 million in authorized shares were issued upon the bank's founding.[7] The bank was founded by the International Bank of Azerbaijan (owns 75%), the Azerbaijan Industrial Bank (12.5%), and a private individual (12.5%).[8]

  • 2010: IBA-Georgia began to issue VISA International bank cards.[9]
  • 2011: The bank became a member of the Banking Association for Central and Eastern Europe (known as BACEE).[10]
  • 2012: The bank reached an annual growth rate of 71.3 percent. The bank's loan portfolio grew from GEL 57.1 million to GEL 97.7 million between 2011 and 2012.[3] By 2012, the bank had 1,462 corporate and individual customers.[3]
  • 2014: IBA-Georgia increased its net profit by 13 percent over the previous year.[11]

People

The bank's leadership consists of executive management, the Supervisory Council, and the Board of Directors: Source:[12][13]

External links

See also

References

  1. Bank Details International Bank of Azerbaijan - Georgia, retrieved 15 May 2014^
  2. Bank IBA-Georgia’s assets increased by 57% for year ABC.az, 16 May 2013, retrieved 15 May 2014^
  3. ‘IBA-Georgia’ shows a 4-fold increase in profits International Bank of Azerbaijan, 22 November 2012, retrieved 15 May 2014^
  4. Company Overview of JSC International Bank of Azerbaijan - Georgia Bloomberg Businessweek, Bloomberg L.P., retrieved 15 May 2014^
  5. Leading Azerbaijani bank’s subsidiary opens in Tbilisi AzerNews, 8 February 2013, retrieved 24 September 2013^
  6. History International Bank of Azerbaijan - Georgia, retrieved 15 May 2014^
  7. The International Bank of Azerbaijan (IBA) United States - Azerbaijan Chamber of Commerce, retrieved 24 September 2013^
  8. IBA-Georgia assets almost doubled in 2011 ABC.az, 1 March 2012, retrieved 15 May 2014^
  9. IBA-Georgia begins to issue bank cards AzerNews, 18 November 2010, retrieved 15 May 2014^
  10. IBA-Georgia joins BACEE Trend, 1 March 2011, retrieved 15 May 2014^
  11. Azerbaijan’s largest bank`s Georgian "daughter" net profit increases almost 13% in a year Trend.az, 14 May 2014, retrieved 15 May 2014^
  12. Supervisory Council International Bank of Azerbaijan - Georgia, retrieved 15 May 2014^
  13. Board of Directors International Bank of Azerbaijan - Georgia, retrieved 15 May 2014^
  14. INTERNATIONAL BANK OF AZERBAIJAN-GEORGIA Swift Codes in Georgia Banks Help Online Banks Directory, Bankshelp.com, retrieved 15 May 2014^