OREANDA-NEWS. April 22, 2011. As we already know, the global economic crisis that started in 2006, gradually grew and matured, and in subsequent years has swept through many countries. And these years for the majority of financial, investment and industrial corporations in the world were the worst over the last half a century, reported the press-centre of IBA.

Against these developments, as well as in the increasingly competitive financial market, the International Bank of Azerbaijan and its subsidiaries abroad, having made some more effort, develop the growth rate. "One of the structures – the Georgia resident-bank with a 100% foreign capital- “the International Bank of Azerbaijan-Georgia", which was established in 2006 – was able to create a modern, universal system of standards of banking services.

The Bank provides a wide range of products and services to corporate and private clients "- says the head of the IBA press-service R. Aghayev. Compared with 2007 the number of corporate clients and individuals of the bank increased, as much as 4 and 10 times correspondingly. As part of the credit needs of today the bank plans to significantly expand its client base.

"The Bank supports the trend of differentiation of deposits and credit lines, planning to adapt them to different social groups. Based on the initial investments and various credit lines, "the International Bank of Azerbaijan-Georgia" now occupies a leading position among foreign banks operating in the banking sector of Georgia – as is reported by the bank.

The earning assets of the IBA in Georgia, according to the reports as of the end of 2010, increased by 35% over the year. The revenues and profits of the bank before provisioning increased by 104% and 87% respectively. The net profit amounted to 233,158 U.S. dollars. The deposits of individuals grew by 8.3 million U.S. dollars.

As was noted by the head of the press service “the International Bank of Azerbaijan-Georgia” since October last year began to issue VISA International credit cards. In future the bank intends to extend the supply due to the premium types of cards such as Visa Platinum and Visa Infinite.

JSC "The International Bank of Azerbaijan-Georgia" – a Member of the Tbilisi Interbank Stock Exchange, Association of Banks of Georgia, is also a co-founder of JSC “The Joint Clearing Centre". The Bank was admitted to the Banking Association for Central and Eastern Europe (The Banking Association for Central and Eastern Europe).