International Bank of Azerbaijan’s authorized capital increased (UPDATE)
details added (first version posted at 15:51)
Baku, Azerbaijan, Feb. 12
The authorized capital of the International Bank of Azerbaijan (IBA) has been increased by 500 million manat and reached 1.141 billion manat upon a decision taken at the extraordinary meeting of the IBA shareholders as of February 10, said the bank's message.
< Moreover, a decision was taken to change the composition of the audit committee as part of the meeting. A procedure related to the commercial project was also considered.
The International Bank of Azerbaijan was founded in January 1992.
The main shareholder is the ministry of finance on behalf of the Azerbaijani government, which owns 51.07 percent of shares, while the remaining shares are owned by private physical and legal entities.