TODAY.AZ / Business

IBAR to open offices in Dubai, Luxemburg and New York

13 February 2007 [19:52] - TODAY.AZ
International Bank of Azerbaijan (IBAR) intends to open its office in Dubai.

IBAR spokesman Rauf Agayev told APA the office will be converted to a subsidiary in future.

He added the bank also plans to open offices in Luxemburg and New York.

International Bank of Azerbaijan has two subsidiaries –IBAR-Moscow and IBAR-Georgia, and offices in London and Frankfurt. The Bank has 35 branches in Azerbaijan.

The State owns a 50.2% controlling stake of the AZN 59mln authorized capital of the Bank.


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