OREANDA-NEWS. August 09, 2010. According to the press service of the International Bank of Azerbaijan, the recently received good news from London: according to the rate of The Banker magazine, IBA has been included among 1000 of the largest and most stable banks in the world, taking 958th place in terms of capital, reported the press-centre of IBA.

The list of banks was published in the July issue of The Banker magazine. And previously, in May, this year, the international rating agency FItch IBCA upgraded the long-term issuer default rating (IDR) of IBA in a foreign currency to investment grade "BBB-", which was the best proof of the high level of stability and reliability of the bank. This estimate corresponds to the long-term IDR of Azerbaijan.

It is reported that on 27 July the International Bank of Azerbaijan has announced the successful completion of a deal to secure a three-year syndicated loan worth 100 million U.S. dollars. This is the first syndicated loan in the bank’s history, obtained for such a long time.

The organizer of the deal was The Credit Suisse International. Among the transaction participants were also such major e representatives of global banking industry as JSC "Halyk Bank", JP Morgan PLC and OJSC MDM Bank. The credit was granted for financing trade operations and other projects of the bank at the rate of LIBOR +4.75% per annum.

It is the fourth transaction of the bank to raise funds in the current year and the second one involving the Credit Suisse. Thus, in February, this year, the IBA has signed an agreement with the same Credit Suisse to open a credit line amounting to USD111 million to finance trading operations. In addition, in June, this year, as part of the annual meeting of the Islamic Development Bank (IDB) held in Baku, the Bank signed with the International Islamic Trade Finance Corporation (the International Islamic Trade Finance Corporation, ITFC) an agreement to open a credit line to finance trade transactions to the amount of USD30 million, and an agreement with ITFC on opening of the credit line amounting to USD15 million to finance projects of small and medium businesses.

Thus, the total amount of borrowings for the first half of this year totaled to more than USD250 million.