International Bank of Azerbaijan to get 600 million manats from government

 International Bank of Azerbaijan to get 600 million manats from government

The Azerbaijani authorities plan to allocate an additional 600 million manats to the International Bank of the country in 2016, Fitch international ratings agency said in a report.

"This shows the government's greater propensity to support the country's largest bank. The small banking sector gives the government scope to support the bank. But direct capital support would be another fiscal cost for the state," Trend cited the message as saying.

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