OREANDA-NEWS. April 13, 2011. The debriefing and award ceremony was held for the winners of the first international contest "The Best GUAM Banks - 2010" conducted by the Organization for Democracy and Economic Development - GUAM, in conjunction with an international publishing house "KBS-Izdat" (Ukraine), Credit Rating "and the magazine" Banker", reported the press-centre of IBA.

The contest objective was to determine the best banking institutions operating in the territories of the GUAM member states in certain areas of their activities. The competition consisted of two stages - the submission of KBS-M form from any of the banks in Azerbaijan, Georgia, Moldova and Ukraine, the analysis of questionnaires and summarizing of votes given for each member of the bank and it was held among 173 banking institutions in the GUAM member states. Winners of the competition were 11 banks and four bankers in various nominations.

The competition included the following nominations: the best bank for public service; the best bank for corporate business, the fastest growing bank, the best bank for the development and implementation of new banking products, the best bank to use new technologies; the best correspondent bank of the GUAM Member States, the bank, which retained a high level of confidence, the most PR-active Bank, the most active bank’s participant in the international projects in the framework of GUAM, a banker of the year (the best top-manager) and the most open and transparent GUAM bank.

The leader of the banking market in the country - the International Bank of Azerbaijan - has won the First international competition, "Banks of the CIS, Baltic states, Georgia -2010" in the nomination "The best automated bank." IBA’s Chairman J. Hajiyev was recognized as a "Banker of the Year (the best top-manager)" in the competition "The Best GUAM Banks -2010. And it's the 44-th award given to the International Bank of Azerbaijan by the international institutions, starting from 2002 for its contribution to the development of the banking sector.

The representatives of central banks, banking associations, banks of the GUAM member states, ministries and departments, diplomatic missions accredited in Ukraine, businessmen and representatives of mass-media attended the ceremony of awarding the prize-winner.

An extended meeting of the coordinating council of national banks and banking associations of the GUAM Member States was held earlier the same day, in the GUAM Secretariat, as well as a meeting of advisory body to prepare the meeting of the Business Council of GUAM. It addressed the issues of the interbank cooperation in GUAM format, Development of GUAM Free Trade Zone and the ability to initiate new projects and programs of economic cooperation in the GUAM format.