IBA Opens Affiliate in Russian City

Published: 21 October 2005 y., Friday

The International Bank of Azerbaijan subsidiary bank (IBA-Moscow) has opened an affiliate in Yekaterinburg, Russia. The move is a part of the bank’s program on developing its network of subsidiaries in Russian regions, IBA press service said on Monday.
Other than the Russian capital, IBA-Moscow is also operating an affiliate in St. Petersburg. IBA is expected to open another subsidiary in Moscow shortly. In total, the bank plans to continue branching out, with several new affiliates to open in the center of Moscow, Russian regions and provinces.

The IBA-Moscow board chairman Fuad Abdullayev said the expansion of the bank’s network will serve the development of Russian regions, as well as broadening of Russo-Azeri economic and finance relations.

The new affiliate to employ 20 people will provide a wide range of services to its clients, including opening of accounts for legal entities and private individuals, money transfers, allocation of loans, etc.

IBA-Moscow, a subsidiary bank of the International Bank, has a charter capital of 10 million euros. IBA also operates official representations in London, Frakfurt and Istanbul.

Šaltinis: Baku Today/Assa Irada
Copying, publishing, announcing any information from the News.lt portal without written permission of News.lt editorial office is prohibited.

Facebook Comments

New comment


Captcha

Associated articles

The most popular articles

Fortis Bank Nederland and ABN AMRO Bank Nederland - Commission grants extension of deadline for implementation of remedies

The European Commission has decided to grant an extension of the deadline for the divestment of Fortis' corporate banking business, consisting of Hollandsche Bank Unie N.V. (HBU), two corporate client departments, 13 "Advieskantoren" and ABN AMRO's Dutch factoring activities to Deutsche Bank. more »

MEPs back support for milk sector

MEPs will vote on an emergency plan to help the crisis-stricken sector dairy sector on Thursday after the Agriculture Committee approved the Commission's proposal on Monday evening in Strasbourg. more »

EBRD invests in leading retailer in Montenegro

The EBRD is boosting competition in the Montenegrin retail sector with a loan to expand the supermarket network of one of the leading retailers in the country. more »

Steve Ballmer on SharePoint: A Great Tool for Pumping Up Productivity

Redmond, Wash. — Oct. 16, 2009— On Oct. 19, Microsoft CEO Steve Ballmer heads to the sold-out Microsoft sharepoint Conference in Las Vegas where he will address more than 7,000 sharepoint customers, partners and developers. more »

Charting a course for maritime policy and sustainable fishing

Proposals tabled for collaboration on sea surveillance, bigger EU role in global maritime affairs and sustainable fishing. more »

EBRD loan helps Noble Group take off in Ukraine

$50 million financing package for agricultural commodities operator. more »

Norwegians move sheet-metal production to Lithuania

Seeking to increase sheet-metal production volumes, Stansefabrikken decided to move all company’s production from Lillesand (Norway) to Stansefabrikken’s successfully operating factories in Lithuania. more »

The Baltic Sea Region: The best place to work and do business

The European Economic and Social Committee (EESC) and the European Commission Representation in Finland jointly organise a conference in Helsinki on 22 and 23 October on "The Baltic Sea Region: the best place to work and do business". more »

Closer look to reality or hard landing of Baltic tiger

Why did economy rise drastically turn into painful decline and what price will every of us have to pay for that? more »

EBRD revies down 2009 economic forecasts, sees fragile recovery in 2010

The economies of central and eastern Europe are expected to contract by an average of 6.3 per cent in 2009 following steep output declines in the first half of the year. more »