Business | Banking
Azerbaijan bank opens representative office
International Bank of Azerbaijan (IBA) opened its first representative office in the UAE in Dubai last week.
- Staff Report
- Published: 23:41 November 15, 2008
Dubai: International Bank of Azerbaijan (IBA) opened its first representative office in the UAE in Dubai last week.
IBA organised an event which was attended by Jahangir Hajiyev, chairman of the bank and leading members of the Azerbaijani community here.
Speaking at the event, Hajiyev thanked the UAE government for its support. Parviz Ismailzade, consul general of Azerbaijan in Dubai, and Samir Imanov, head of the Azerbaijan community in the UAE, welcomed the launch of IBA's representative office in Dubai.
"The UAE was one of the first countries who recognised our independence. The country continues to support our community who live and work here," said Imanov.
The International Bank of Azerbaijan was established in 1992. Currently it has 1,340 employees and a customer base of more than 500,000 individuals and 30,000 legal entities. IBA's service network includes 36 branches, 95 service outlets and 572 ATMs, and covers more than 40 cities to help clients manage their accounts.
IBA has a BB+ rating from Fitch while Moody's Investors Service has rated it at Baa2. IBA is a part of the IBA financial group, which includes the International Bank of Azerbaijan-Moscow, International bank of Azerbaijan-Georgia, International Insurance Company, processing company Azericard and Jointleasing Leasing Company.
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