News by country: Republic of Cuba

International Investment Bank upgraded to A- by Fitch Ratings Agency

International Investment Bank upgraded to A- by Fitch Ratings Agency

On September 8, 2020, Fitch Ratings upgraded IIB’s rating to A- from BBB+ “reflecting the ongoing diversification of the bank’s operations across the EU following the relocation of its’ headquarters to Budapest”. Fitch positively assesses IIB’ s overall Europeanisation strategy expressed in particular in a shift in the bank’s lending operations and shareholder structure, focusing on a larger share of lending in the region and an increased share of EU shareholders in the Bank. As the…  Read more
Virtual format and tangible results:  first online IIB Board of Directors meeting takes place

Virtual format and tangible results: 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…  Read more
Another contribution to the IIB paid-in capital: member states support the Bank in global crisis

Another contribution to the IIB paid-in capital: member states support the Bank in global crisis

On April 7, 2020, within the framework of the new capitalization programme approved by the IIB member states in the amount of up to 200 million euros, the Russian Federation transferred 10.64 million euros as a contribution to the paid-up capital of the Bank, bringing its total value to 370.25 million euros. Thus, Russia has become the first IIB shareholder to fully fulfil its obligations for the new round of capitalization due in 2020. Since the relocation of the IIB headquarters to Europe in…  Read more
S&P affirms “A-“ long-term rating for IIB with a stable outlook

S&P affirms “A-“ long-term rating for IIB with a stable outlook

On March 26, 2020, the international rating agency S&P Global affirmed the IIB “A-” long-term rating with a stable outlook. Among the main factors that contributed to this decision, S&P points out the Bank’s high level of capital adequacy and the effectiveness of the risk management system, which, according to the Agency, will allow the institution to confidently confront the challenges of the current period of high volatility in the global economy. S&P defines the financial profile of IIB…  Read more
IIB acquires the historic Lánchíd Palota building for its headquarters in Budapest

IIB acquires the historic Lánchíd Palota building for its headquarters in Budapest

On March 24, 2020, International Investment Bank and DOB-68 ZRT Company in full accordance with the requirements of the Hungarian legislation signed the documentation on the acquisition of the historic Lánchíd Palota building, located at Fő u, 1 by the Bank. Constructed in the 19th century, this neo-Renaissance building is one of the most beautiful in Budapest. Designed by a famous Hungarian architect Miklós Ybl it is located on the bank of the Danube river, at the foot of the Buda Castle,…  Read more