OREANDA-NEWS. August 06, 2009. An ongoing global financial crisis triggers the collapse of stock and money markets and the failure of tens of financial and credit institutions in different countries. Despite an enormous calamity of financial "nature" and judging by the recent indicators, the performance of International Bank of Azerbaijan, the largest bank in the Southern Caucasus, can be appreciated as more than positive, reported the press-centre of IBA.

Considering the current "stormy weather" in the financial world, the fact of enormous growth in profitability is especially attractive. As of July 1st, 2009 its net profit was up by 61.5 percent as compared to the similar period of last year and amounted (after taxation) to 62,189.36 thousand manats.

It is equal to 70 percent of total profit in the whole year of 2008. Whereas the aggregate volume of Bank's assets amounted to 3,466,986.66 thousand manats. The volume of consumer credit issued by IBA amounted to 356,731.91 thousand manats accounting for 14.5% of the overall volume of Bank's credit portfolio, which totals 2,454,772.84 thousand manats. The Bank also successfully continues to attract the deposits from individual clients. As of July 1st this year, the volume of household deposits with the Bank totaled 488.051 million manats. At the same time, the deposits from individual clients accounted for 30.6% of the total volume of Bank's deposit portfolio, which, as of the reporting date, amounts, after deduction of deposits from banks, to 1,594,865.48 thousand manats.

The volume of aggregate capital reached 446,154.94 thousand manats with the authorized capital of 197,586.75 thousand manats. In the first half of this year, IBA's rate of return on equity (RoE) made 11.55%, while the rate of return on assets (RoA) was 1.65%, and the Bank's common profitability index constituted 32.7% (for comparison, by the end of last half-year, this indicator made only 20%), the Bank reports.

The International Bank of Azerbaijan continues to retain the leading positions at the country's market of plastic cards. At the end of the first half of 2009, IBA maintained 1,589,333 active plastic cards. The Bank installed 600 automatic teller machines and 2,700 POS-terminals.

The productive activity of the International bank of Azerbaijan, the positive dynamics of its financial indicators, and a sustainable development under the conditions of economic stability achieved in the country, have been more than once highly appreciated by the international financial institutions and have also gained and keep gaining the worldwide recognition.

Having the highest in Azerbaijan ratings received from the international rating agencies, this year, IBA has been awarded the following prizes: "The Best Bank in the World’s Emerging Markets" from "The Global Finance" journal (New York) and "The Best bank in CIS, Central, and Eastern Europe" from "Emeafinance" journal (London). Became the winner of "Platinum Key", the first international banking award. Besides that, in February this year, the successful performance of IBA has been highly appreciated by the Board of Directors of the "European Economic Chamber of Trade, Commerce and Industry" (EEIG), and the International Bank of Azerbaijan has been ranked as the most stable bank in Europe in the time of crisis.

The International Bank of Azerbaijan, the largest bank in the country, does not give up the plans for opening of additional own subsidiaries abroad. Thus, as early as in 2010, IBA is going to file an application for opening its affiliated bank in Qatar.