JSC International Bank of Azerbaijan has issued today the annual report for 2015, according to which (https://goo.gl/Vducmm) CJSC Agrarkredit has a 27.26% stake in the bank.
The state represented by the Ministry of Finance controls 82.22% stake in IBA. The remaining 17.78% of the shares are distributed between 14 legal entities and 1,762 individuals.
In July 2015 by the decree of President Ilham Aliyev IBA distressed assets were transferred to the control of the non-bank credit organization Agrarkredit. We are talking about assets totaling 5 billion 628.9 million AZN, the bank's financial report says.
IBA was founded in 1992 and has several subsidiaries (insurance, leasing and processing companies, banks in Georgia and Russia, etc.). -08D-
Economics
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