International Bank of Azerbaijan to pay off dividends after long break

Finance Materials 16 October 2019 13:34 (UTC +04:00)

Baku, Azerbaijan, Oct. 16

By Eldar Janashvili – Trend:

General regular meeting of shareholders of the International Bank of Azerbaijan OJSC was held in Baku, the bank told Trend.

The successful results of the recovery process and the current state of the bank, as well as the strategic goals set before it at a new stage of development were highlighted at the meeting.

The bank’s position in the capital, financial stability and profitability as a result of the recent financial recovery measures were stressed at the meeting.

The International Bank of Azerbaijan, as a bank with profit, currently has the opportunity to pay dividends to its shareholders. As a result of the approved financial statements for 2018, a decision was made to pay dividends to shareholders of the bank in the amount of 150 million manat from last year’s profit worth 0.0326 manat per share.

The financial results of the International Bank of Azerbaijan for the nine months of 2019 were also summed up. At the same time, the regulation on the general meeting of shareholders of the bank was approved.

The discussions on a number of other issues of interest to shareholders were held at the general meeting. In particular, a decision was made to create a subsidiary investment company of the bank. The authorized capital of the investment company is 300 million manat.

(1 USD = 1.7 AZN on Oct. 16)


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