BAKU, Azerbaijan, May 8. The International Bank of Azerbaijan (IBA) has decided to pay a dividend of 200 million manat ($100.7 million) to its shareholders from the bank's 2024 profits, said Abbas Ibrahimov, Chairman of the Board of Directors of IBA, Trend reports.
"The International Bank of Azerbaijan (IBA) has decided to distribute a dividend payout of 200 million manat ($100.7 million) to its shareholders from its 2024 profits, a record high for the past seven years. This distribution brings the annual profitability of each IBA share to 15.6 percent. The bank currently counts more than 30,000 shareholders.
According to the rules, the dividends will be paid to shareholders who completed transactions by May 5. On May 6, the National Depository Center (NDC) provided the final shareholder list, and payments are set to be issued throughout May," he said.
Regarding the composition of the bank's capital, Ibrahimov noted that the government currently holds a 92.18 percent share in ABB. Accordingly, of the 200 million manat dividend, 184 million manat ($108.2 million) will be paid to the state budget.
"In recent years, the IBA has contributed a total of 1.6 billion manat ($941.1 million) to the state budget and socially-oriented projects. Of this amount, 1.04 billion manats were paid as dividends, while the remainder was allocated to profit tax, social taxes, and other payments. Last year alone, the bank paid 110 million manat($64.7 million) in taxes and social contributions to the state budget and distributed 178 million manat ($104.7 million) in dividends from its 2023 profits.
The bank's net operating income grew by 13.6 percent in 2024 compared to the previous year, driven by a notable 25.8 percent increase in its loan portfolio, which rose by 1.3 billion manat ($764.7 million).
In the first four months of this year, IBA reported a net profit of around 80 million manat ($47 million). The bank's loan portfolio has now reached 6.5 billion manat ($3.8 billion), with the business loan portfolio expanding to 3.2 billion manat ($1.8 billion). Currently, IBA employs more than 4,000 staff members," he added.
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