OREANDA-NEWS. May 11, 2012. The International Bank of Azerbaijan’s deposits grew 45 percent to 2.76 billion manats (USD 3.5 billion) in the first quarter from a year earlier, Rauf Agayev, a spokesman for the country’s largest lender, said by phone, reported the press-centre of IBA.

The Azeri government holds 50.2 percent of the Baku-based bank, also known as IBAR, the largest lender in Azerbaijan.

To contact the reporter on this story: Zulfugar Agayev in Baku at zagayev@bloomberg.net