International Bank of Azerbaijan-Georgia

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Joint Stock Company "International Bank of Azerbaijan - Georgia"
Trading name JSC Bank "IBA - Georgia"
Native name აზერბაიჯანის საერთაშორისო ბანკი - საქართველო
Type Joint-stock company
Industry Consumer and commercial banking
Founded Tbilisi, Georgia (February 26, 2007 (2007-02-26))
Headquarters Tbilisi, Georgia
Area served Georgia
Key people
  • Samir Veliyev, General Director
  • Shalva Goduadze, Deputy General Director
Services Currency conversion, money transfers, currency exchange, cash deposit, and credit services
Net income
  • Increase 199.3% 2012-2013
  • GELლ 4.3 million (2012)
  • GELლ 1.05 million (2011)
Total assets
  • Increase 56.7% 2012-2013
  • GELლ144.9 million (2013)
  • GELლ92 million (2012)
Total equity GELლ22.7 million (2012)
Parent International Bank of Azerbaijan
Website ibar.ge
References: [1][2][3][4][5]

The International Bank of Azerbaijan-Georgia ("IBA-Georgia" for short) is a subsidiary bank of the International Bank of Azerbaijan located in Tbilisi, Georgia, founded in 2007.[1] It is one of three Azerbaijani banks operating in Georgia.[6] The bank is a member of the Association of Banks of Georgia.[7]

History[edit]

According to the United States - Azerbaijan Chamber of Commerce, the bank was founded with 100 percent foreign capital. Initially, $7 million in authorized shares were issued upon the bank's founding.[8] The bank was founded by the International Bank of Azerbaijan (owns 75%), the Azerbaijan Industrial Bank (12.5%), and a private individual (12.5%).[9]

  • 2010: IBA-Georgia began to issue VISA International bank cards.[3]
  • 2011: The bank becamse a member of the Banking Association for Central and Eastern Europe (known as BACEE).[10]
Georgian lari banknotes.
  • 2012: The bank reached an annual growth rate of 71.3 percent. The bank's loan portfolio grew from GEL 57.1 million to GEL 97.7 million between 2011 and 2012.[5] By 2012, the bank had 1,462 corporate and individual customers.[5]
  • 2014: IBA-Georgia increased its net profit by 13 percent over the previous year.[11]

People[edit]

The bank's leadership consists of executive management, the Supervisory Council, and the Board of Directors:

Name Position Group
Emil Mustafayev Chairman of the Supervisory Council Supervisory Council
Akhmet Eman Deputy Chairman of the Supervisory Council Supervisory Council
Rashad Gajiyev Member of the Supervisory Council Supervisory Council
Samir Veliyev General Director Board of Directors
Ali Hakverdiyev Deputy General Director Board of Directors
Tamar Gogolashvili Member of the Board Board of Directors
Samir Veliyev General Director Executive Management
Shalva Goduadze Deputy General Director Executive Management

Source:[12][13]

External links[edit]

See also[edit]

Notes[edit]

  1. ^ SWIFT is an acronym for the Society for Worldwide Interbank Financial Telecommunication. A SWIFT code is special code that identifies a bank among the international banking community.[14]

References[edit]

  1. ^ a b "Company Overview of JSC International Bank of Azerbaijan - Georgia". Bloomberg Businessweek. New York, NY: Bloomberg L.P. Retrieved 15 May 2014. 
  2. ^ "Bank Details". International Bank of Azerbaijan - Georgia. Retrieved 15 May 2014. 
  3. ^ a b "IBA-Georgia begins to issue bank cards". AzerNews. 18 November 2010. Retrieved 15 May 2014. 
  4. ^ "Bank IBA-Georgia’s assets increased by 57% for year". ABC.az. 16 May 2013. Retrieved 15 May 2014. 
  5. ^ a b c "‘IBA-Georgia’ shows a 4-fold increase in profits" (Press release). International Bank of Azerbaijan. 22 November 2012. Retrieved 15 May 2014. 
  6. ^ "Leading Azerbaijani bank’s subsidiary opens in Tbilisi". AzerNews. 8 February 2013. Retrieved 24 September 2013. 
  7. ^ "History". International Bank of Azerbaijan - Georgia. Retrieved 15 May 2014. 
  8. ^ "The International Bank of Azerbaijan (IBA)". United States - Azerbaijan Chamber of Commerce. Retrieved 24 September 2013. 
  9. ^ "IBA-Georgia assets almost doubled in 2011". ABC.az (Baku, Azerbaijan). 1 March 2012. Retrieved 15 May 2014. 
  10. ^ "IBA-Georgia joins BACEE". Trend. 1 March 2011. Retrieved 15 May 2014. 
  11. ^ "Azerbaijan’s largest bank`s Georgian "daughter" net profit increases almost 13% in a year". Trend.az (Baku, Azerbaijan). 14 May 2014. Retrieved 15 May 2014. 
  12. ^ "Supervisory Council". International Bank of Azerbaijan - Georgia. Retrieved 15 May 2014. 
  13. ^ "Board of Directors". International Bank of Azerbaijan - Georgia. Retrieved 15 May 2014. 
  14. ^ "INTERNATIONAL BANK OF AZERBAIJAN-GEORGIA Swift Codes in Georgia". Banks Help Online Banks Directory. Bankshelp.com. Retrieved 15 May 2014. "Bank Identifier Code (BIC code) is assigned to each and every financial as well as non-financial bank or institutes. The BIC Code is also called as SWIFT Code because BIC Code is registered by The Society for Worldwide Interbank Financial Telecommunication (SWIFT). SWIFT Code is a standard format of Bank Identifier Codes (BIC). That is why SWIFT Code is also known as BIC Code or Swift BIC. SWIFT Code is a identification code assigned to a financial as well non-financial bank or institutes and it being used to transferring money and exchanging messages between banks or financial / non-financial institutes."