According to analyses on annual statements submitted by the IBA, the main reason of the loss incurred at the end of the reporting period was allocations for creation of special reserves to cover possible losses on assets. So, special reserves on assets made AZN 198.3 mln in 2015, up AZN 71.7 mln or 56.6% from AZN 126.6 mln in 2014.
In the reporting period on classification of assets on risk levels, an increase (AZN 535.9 mln or 3.1 times) was observed in the bad assets, which resulted in creation of 100% reserves on above-mentioned assets.
IBA triples bad assets
24 May 2016
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As in 2013 and 2014, the transfer of funds to the state budget in 2015 by the International Bank of Azerbaijan (IBA), in which 54.9% (AZN 352,473,900) of shares belong to the state, is not planned in 2015 either.
