International Bank of Azerbaijan’s financial recovery process completes
BAKU, Azerbaijan, Oct. 28
By Eldar Janashvili – Trend:
The bank’s financial recovery process has been completed and financial stability has been ensured, Chairman of Board of the International Bank of Azerbaijan Abbas Ibrahimov said in an interview with Trend.
“The issue of paying dividends has not been on the agenda in recent years due to the difficult stage of the restructuring of the bank’s assets and liabilities and the allocation of available resources to increase its financial stability,” chairman of board said.
“Nevertheless, the revival of the country's business life has recently strengthened the bank’s capital position,” Ibrahimov said. “The International Bank of Azerbaijan is already bringing profit and may pay dividends to its shareholders.”
During the recent meeting the bank’s shareholders decided to pay dividends in the amount of 0.03 manat (0.02 cents) per share totaling 150 million manat ($88 million) from the profit gained in 2018.
(1 USD = 1.7 AZN on Oct. 28)
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