OREANDA-NEWS. June 26, 2013. The International Bank of Azerbaijan has stated of its leading position in the financial markets of three countries.

IBA deputy chairman of board Emil Mustafayev says that thanks to the support of the Azerbaijani leadership and financial strength of the country, the IBA today is not only the leader in the Azerbaijani market, but through its subsidiaries is one of the leaders of the banking sector in Russia and Georgia.

"At the same time we are developing not only the direct business, but also related operations. International Insurance Company is one of the leading insurers of Azerbaijan, and processing company AzeriCard not only serves operation of the IBA or local banks, but also the card business of banks from other countries," Mustafayev said.

The IBA is also preparing to open subsidiaries in Qatar and Ukraine.