The International Bank of Azerbaijan (IBA) has decided to increase the capital of the IBA-Moscow Bank by 40%, or 28 million manats (by 1,239 billion rubles, 44.25 rubles = 1 manat, as of June 9, 2014). The bank has a capital of 3 billion rubles, Trend reports.
IBA-Moscow was founded in 2002. It is a subsidiary of IBA, the largest bank in the South Caucasus. IBA's assets total $8.7 billion. It has 77 offices abroad, making it the 34th largest bank of the CIS.
