OREANDA-NEWS. May 20, 2009. EMEA Finance magazine, one of the leading information and analytical publication in Europe has defined the best banks in Europe, the Middle East and Africa at the beginning of this month. In recognition of merits and success achieved in 2008, the International Bank of Azerbaijan was awarded as the Best Local Bank in the category “Best Bank in CIS, Central and Eastern Europe”, reported the press-centre of IBA.

EMEA Finance magazine published in London focuses on the financial sector of the countries in Europe, the Middle East and Africa. The magazine audience – top-managers of leading companies, financial institutions of the world countries. The magazine is the only journal in the world covering all finance events, activities and achievements, as well as innovations in financial services and products, services and technologies. The magazine annually denominates the best banks in over 20 categories, such as Islamic banking, syndicated loans, mergers, etc.

All interested banks were invited to participate in the contest for prizes, while the organizers automatically accept for consideration the information of the largest banks of each country, as well as the 50 largest (by indicators such as assets, capitalization and profits) banks in Central and Eastern Europe and CIS.

The winner of the nomination has been identified by the committee, consisting of the management and analysts of EMEA Finance, banking and financial consultants. The financial and economic indicators, such as: market share, providing critical, key and innovative products and services, profitability, corporate strategy and etc., as well as the stability of the bank against a worldwide economic crisis served as the main criteria for selecting the winners.

The award ceremony will be held in London with participation of representatives of international financial institutions and representatives of major companies and corporations.