British magazine “The Banker” acknowledged the International Bank of Azerbaijan (IBA) as “the Bank of the Year”.
According to the IBA Press Service, the awarding ceremony was held on November 28 in London. The IBA was represented by Rufat Imamverdiyev, the Head of IBA Representative office in London.
The British magazine underlined successful recapitalization and introduction of Islam banking among the IBA advantages.
“Growth of the IBA capital exceeded growth of its assets that allowed to improve capital ratio and created the basement for increase of crediting. It became one of the important competitive advantages of the IBA and significantly improved its financial stability. It allowed the Bank to increase the number of its active transactions, implement strategic initiatives in all directions of its activity including introduction of the up-to-date system of client interaction management,” The Banker points out.
The Banker emphasizes the fact that the IBA has improved the Corporate Business Department, upgraded and restructured sales and crediting procedures and improved service quality. Retail banking has also been upgraded; the Bank has introduced new products for improvement of investment banking quality. MBA is making stress at improvement of client service quality in all departments – a special standard has been created to control quality of service on a daily basis. The standards are being constantly improved to conform to the new requirements.