BAKU, Azerbaijan, October 5. International Bank of Azerbaijan OJSC made a decision to cancel its securities at the regular general meeting of the bank's shareholders, Trend reports citing the Central Bank of Azerbaijan.
A total of 57.9 million IBA shares with a par value of 27 gapiks (total value of 15.639 million manat or $9.199 million) have been repurchased out of the retained earnings.
International Bank of Azerbaijan OJSC was established in 1992. The bank's authorized capital accounts for 1.225 billion manat ($720.6 million).