Last year marked one of the most successful periods in IBA’s history, ending with a 47% share in the banking system’s assets, 63% of the credit card market and 43% of the industry’s loan portfolio.
IBA provided its customers with a new plastic card service, unique in the Azerbaijan market, that allows them to send or receive money from one card to another. The bank has a strong international presence, with representative offices in Russia, Georgia, Germany and the UK, and plans to open offices in Luxembourg, New York and Dubai.
Its domestic operations continued to expand, with 130 branches and points of sale (PoS) in more than 40 cities throughout the country. The group’s ATM network grew to more than 530 outlets, accounting for more than 50% of the country’s total network. IBA has grown its retail and corporate client base to the largest in Azerbaijan, adding nearly 5000 new corporate clients last year and a similar number of new retail customers.
“IBA is not a simple bank, it is a group of companies that is integrating into international business,” says chairman Jahangir Hajiyev. “The group is succeeding in its activity in different sectors of the country’s economy. At the head is the International Bank of Azerbaijan, which is the leader of the Azerbaijan and South Caucasian banking markets. The group includes an insurance and leasing company, a processing centre, and subsidiary banks in Russia and Georgia.”
