OREANDA-NEWS. May 04, 2011. One of the leading information-analytical publications in Europe - Emeafinance journal recently identified the best banks among the countries of Europe, Middle East and Africa, reported the press-centre of IBA.

As it is stated by 1news.az with reference to the report of the International Bank of Azerbaijan (IBA), this year the bank has been awarded two prizes of the Journal at once –the Best Local Bank in Azerbaijan in 2010 in the category of the Europe Banking Award 2010 in recognition of merits and success achieved in the past year.

The second prize –the Best Sustainability Award in the category of the Project Finance Award 2010 was awarded to the IBA for the bank's participation in the projects of particular value in terms of ecology.

"Throughout the world, banks are increasingly adopting a decision on the financing of a project taking into account the rather stringent criteria for their "ecological compatibility". In particular, this year's award was given to the IBA for its involvement in financing of the construction of the plant for the production of paper raw materials and paper products in Azerbaijan. The total project cost is around 80 million euro ", - says the report.

The winners of the nominations were identified by the committee consisting of the management and analysts of the Emeafinance journal, banking and financial consultants. The main criteria for choosing the winners were financial and economic indicators, such as: market share, providing critical, key and innovative products and services, profitability, corporate strategy, as well as active participation in the environmentally important projects and so on.

We would remind you that in March 2010, the IBA has already received the award of the Best Sustainability Deal given by the Emeafinance journal. The award was presented for the Bank's involvement in funding of the first project for the production of wind power in Azerbaijan - Yeni Yashma.

The project, worth about 118 million euros includes the construction of 20 windmills with a total production capacity of 50 MW. In the project, the IBA was the guarantor of the transaction, the main participants of which became Societe Generale and Landesbank Berlin,
The Emeafinance journal, published in London, is devoted to the financial sector in Europe, Middle East and Africa. The audience of the journal is - top managers of leading companies and financial institutions around the world.

The journal is the only global print publication covering all financial events happening in the region, activities and achievements, as well as innovations in financial services and products, services and technologies. The journal annually nominates the best banks in more than 20 nominations.

We should note that the beginning of 2011 is rich in rewards for the IBA. So, at the end of March this year the GUAM Secretariat in Kyiv summed up the results of the I –st International Competition held by GUAM in cooperation with the international publishing house "KBS-Izdat" (Ukraine), Credit Rating and "The Banker" magazine.

The IBA won the I –st International competition "The Banks of the CIS, Baltic states, Georgia-2010" in nomination "The best automated bank", and the IBA Chairman Jahangir Hajiyev was recognized to be "the Banker of the Year (the best top-manager)" in competition the "Best Banks of GUAM-2010” .