OREANDA-NEWS. February 28, 2012. The population has invested 252 million manat in the International Bank of Azerbaijan (IBA) in 2011, the bank reported, reported the press-centre of IBA.  

As of Jan. 1, the population's deposits to the IBA increased by 40 percent to 968.996 million manat. This represents 41 percent of the total amount of individual deposits in Azerbaijan banks.

“It should be noted that the population's deposits to the IBA hit USD50 million in 2002,” a statement said.

The International Bank of Azerbaijan is a quasi-bank and its main shareholder is the Azerbaijan government, which owns 50.2 percent stake, while 49.8 percents of the share are owned by private physical and legal entities.