First Online IIB Board of Directors Meeting Takes Place

On June 5, 2020, the 6th meeting of the Board of Directors of International Investment Bank took place. The delegations of IIB member states discussed preliminary results of the Banks' activities since the beginning of this year and took a number of important decisions.

For the first time in its history, the meeting was held in an online format. IIB's successfully integrated modern custom-made IT system ensured effective and full-fledged remote interaction of all its governing bodies, as well as a smooth functioning of the Bank with maximum safety standards for employees during the pandemic in place.

Addressing representatives of the member states, Nikolay Kosov, IIB Chairperson of the Management Board, noted that despite serious external challenges, the Bank demonstrated its sustainability, quickly developed and implemented an anti-crisis plan to support its shareholders in combating COVID-19 consequences, managed to maintain a stable position in the financial market confirmed by international credit rating agencies and the investors' community.

Since the beginning of 2020, IIB's assets have grown by 23% and reached EUR 1.67 billion, while the loan and documentary portfolio reached EUR 1.03 billion, keeping a low level of NPLs. The Bank continues to put into practice its Europeanization strategy - the share of projects implemented in the interests of EU member states increased from 54 to 56%.

A stable level of capital adequacy and liquidity ratios, high quality of the loan portfolio and treasury assets, prudent risk management system and corporate governance as a whole became a basis for affirming IIB's long-term credit rating by three leading credit rating agencies.

Despite collapsed global financial markets, the Bank had shown...