International Bank of Azerbaijan
Encyclopedia
The International Bank of Azerbaijan is the state-controlled bank operating in the Republic of Azerbaijan
. Headquartered in Baku
, the bank consists of 36 branches and 95 service outlets in more than 40 cities.
The Azerbaijan Ministry of Finance is the bank’s main shareholder, possessing a 50.2 percent equity stake. The bank, which reported a 2007 consolidated net income of US$88.1 million and total assets of US$3.2 billion, currently holds 39 percent of the Azerbaijan banking system
’s total assets.
In May 2008, the bank became the Azerbaijan source for the issuance of Eurobond
s and American Express
credit cards. In July 2008, the bank received permission from the U.S. Federal Reserve Board to open a representative office in New York City
.
Azerbaijan
Azerbaijan , officially the Republic of Azerbaijan is the largest country in the Caucasus region of Eurasia. Located at the crossroads of Western Asia and Eastern Europe, it is bounded by the Caspian Sea to the east, Russia to the north, Georgia to the northwest, Armenia to the west, and Iran to...
. Headquartered in Baku
Baku
Baku , sometimes spelled as Baki or Bakou, is the capital and largest city of Azerbaijan, as well as the largest city on the Caspian Sea and of the Caucasus region. It is located on the southern shore of the Absheron Peninsula, which projects into the Caspian Sea. The city consists of two principal...
, the bank consists of 36 branches and 95 service outlets in more than 40 cities.
The Azerbaijan Ministry of Finance is the bank’s main shareholder, possessing a 50.2 percent equity stake. The bank, which reported a 2007 consolidated net income of US$88.1 million and total assets of US$3.2 billion, currently holds 39 percent of the Azerbaijan banking system
Banking in Azerbaijan
The Central Bank of Azerbaijan is the central bank of Azerbaijan which is charged with regulating the money supply, circulating currency, and regulating the commercial banks of the country. However, the banking system in Azerbaijan is small relative to GDP and ineffective in capital allocating. An...
’s total assets.
In May 2008, the bank became the Azerbaijan source for the issuance of Eurobond
Eurobond
A Eurobond is an international bond that is denominated in a currency not native to the country where it is issued. It can be categorised according to the currency in which it is issued. London is one of the centers of the Eurobond market, but Eurobonds may be traded throughout the world - for...
s and American Express
American Express
American Express Company or AmEx, is an American multinational financial services corporation headquartered in Three World Financial Center, Manhattan, New York City, New York, United States. Founded in 1850, it is one of the 30 components of the Dow Jones Industrial Average. The company is best...
credit cards. In July 2008, the bank received permission from the U.S. Federal Reserve Board to open a representative office in New York City
New York City
New York is the most populous city in the United States and the center of the New York Metropolitan Area, one of the most populous metropolitan areas in the world. New York exerts a significant impact upon global commerce, finance, media, art, fashion, research, technology, education, and...
.
See also
- Banking in AzerbaijanBanking in AzerbaijanThe Central Bank of Azerbaijan is the central bank of Azerbaijan which is charged with regulating the money supply, circulating currency, and regulating the commercial banks of the country. However, the banking system in Azerbaijan is small relative to GDP and ineffective in capital allocating. An...
- Central Bank of Azerbaijan
- List of banks in Azerbaijan
- Azerbaijani manatAzerbaijani manatThe Manat is the currency of Azerbaijan. It is subdivided into 100 qəpik. The word manat is borrowed from "moneta" which is pronounced as "maneta"...
- Economy of AzerbaijanEconomy of AzerbaijanAzerbaijan is an economy that has completed its post-Soviet transition into a major oil based economy , from one where the state played the major role...