OREANDA-NEWS. December 27, 2010. As it is reported by the head of the press service of the International Bank of Azerbaijan (IBA), Rauf Agayev, a new point of self- service of the Bank began its activities at the following address: 28-th May street, 20 (opposite the Lutheran church).

R. Agayev said that the new point of self-service is equipped with three new "cash-in" type ATM-s which, in addition to all the operations available in conventional ATM-s (automated teller machine) give the bank customers the opportunity to place the cash to the accounts of their bank cards. Regarding the "cash-in" ATM-s the head of the press-service said that the bank has set a goal to bring in 2011 the number of ATM machines of this type at least to 50 and to maximize their functionality. In addition to ATM-s, the point of self-service is also equipped with the information kiosk – a "simplified" version of ATM, which offers the same services as conventional ATM-s, except for issuing and receiving of cash.

At first, the point will operate from 8.00 to 24.00, in the long run the transfer to the around-the-clock work is provide for. For purposes of visitors’ security the point is equipped with video-tracking cameras, the point will also be attended by a private security officer.

R. Agayev also said that for quite a long time self-service points have been operating in the shopping and entertainment center of “Park Boulevard” and in the Fountain Square, close to the presidential library.

According to the head of the press service of the International Bank of Azerbaijan, by means of ATMs and bank information kiosks one can pay for the services of all mobile operators in Azerbaijan (Azercell, Bakcell, Nar Mobile, Azerfon-Vodafone), fixed line telephone services and providers of Internet connection (Elcell, Connect, Adanet, Azeronline, AzEurotel), International Insurance Company and Bakielektrikshebeke Company, transfer funds from one bank card account to the another bank card account, to change the PIN-code of cards and open a cash deposit. Many of these services are also available in the "Internet Banking" and "Mobile Bank" systems.

As stated by R. Agayev, the development of self-service points and the expansion of the functional of ATMs, information kiosks, "Internet Banking" and "Mobile Bank" systems are the strategic objectives of the IBA, and here the Bank has achieved considerable success. Thus, the growing number of transactions and their size in monetary terms through the above mentioned channels is on average 35-40% per annum, in some years reaching 70%.

We should note that the country's largest International Bank of Azerbaijan, according to the results of the third quarter of this year, achieved phenomenal success. As stated in the bank’s report, the assets of IBA on October 1 exceeded 5.095 billion manats. In this case, the bank loan portfolio exceeded 3.946 billion manats (including consumer loans - 376.795 million manats), and the deposit portfolio - 2.514 billion manats (including deposits of individuals amounting to 478.258 million manats).

The net profit of the bank as of October 1, reached AZN 40,171.85 thousand manats with revenue of AZN 280,152.23 and expenditures of AZN 184,869.26. The IBA today serves accounts of 986,979 clients, which is by 100,000 clients more than it was at the beginning of the year.

It is not by chance that one of the world's leading financial publications - The Banker (UK) magazine included the International Bank of Azerbaijan among the 1000 of the largest and most stable banks in the world: the bank has taken the 958-th place in terms of capital. And in terms of earnings’ index to average equity (64%) the IBA has been recognized as the second bank in the world.

Today, the IBA is the owner of the highest in Azerbaijan ratings from international rating agencies: Fitch IBCA (BBB-) and Moody's Investors Service (Baa3). We would like to note that this level is now out of reach for many financial institutions of the CIS.

Compared with the year of 2000, today the bank's assets grew more than 24 times as much, and the authorized capital - 105 times as much. Share of the IBA in the total banking loans in the country is around 43%, while the actual loan portfolio, compared with the beginning of 2000, increased 28 times as much. Deposits as the main part of the resource base increased 23 times as much, with the deposits of individuals increased almost 30 times as much.

Despite of these successes, the IBA plans further to strengthen its position in the financial and credit markets. With this purpose the bank in conjunction with a well-known in the international community respected auditing firm PricewaterhouseCoopers has developed a strategic development plan covering 2010-2015. The line of strategic development for the next five years has been defined; the realization of optimum alternatives of the developed strategic initiatives and ways for successful achievement of new goals for all areas has been identified.