Azerbaijani largest bank’s capital to be increased by almost 30%
Baku, Azerbaijan, Apr. 2
By Azad Hasanli - Trend:
The authorized capital of the International Bank of Azerbaijan (IBA), according to a decision made by a general meeting of the bank's shareholders, will be increased by 200 million manats up to 890 million manats, IBA said in a message April 2.
The general meeting of the shareholders was held today, April 2.
Aside from that, the meeting approved the 2014 financial report recommended by the audit committee, decided to leave undistributed the 25.5 million manats of profits, received last year.
The International Bank of Azerbaijan was established in January 1992.
The bank's main shareholder is the Azerbaijani government, which holds 50.2 percent of shares, while private individuals and legal entities hold the remaining 49.8 percent.
The official rate as of April 2 is 1.0485 AZN/USD.
Edited by CN
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