The International Bank of Azerbaijan-Georgia ("IBA-Georgia" for short) is a subsidiary bank of the International Bank of Azerbaijan located in Tbilisi, Georgia, founded in 2007.[4] It is one of three Azerbaijani banks operating in Georgia.[5] The bank is a member of the Association of Banks of Georgia.[6]
History
According to the United States - Azerbaijan Chamber of Commerce, the bank was founded with 100 percent foreign capital. Initially, $7 million in authorized shares were issued upon the bank's founding.[7] The bank was founded by the International Bank of Azerbaijan (owns 75%), the Azerbaijan Industrial Bank (12.5%), and a private individual (12.5%).[8]