OREANDA-NEWS. October 16, 2009. The International Bank of Azerbaijan has taken part in a range of events dated to coincide with the annual meeting of the World Bank and the International Monetary Fund. The events dedicated to the global economic ad financial condition of international financial institutions covered directions of future development of the global bank system and other matters concerning relations IFIs and banks, reported the press-centre of IBA.
 
The IBA has reported that at the event devoted to activities of banks world journals Global Finance and Euromoney announced the best banks and emphasized their contribution to common fight against the global economic crisis.
 
In the opinion of both journals, the IBA was recognized the best bank of Azerbaijan. Choice of the IBA was based on the relevant decision of the Commission consisting of the members of journals’ editorial boards, bank and finance consultants, and executives of international companies and corporations. The basic criteria for choice of the winners were financial and economic indicators: rise of assets, profitability growth, strategic development, customer service, competitive advantages and innovative products.
 
Since 2002 the IBA has been chosen the best bank of Azerbaijan over the last seven years on financial and economic performance among the country’s rest banks.