According to the decision of the general shareholders' meeting of the International Bank of Azerbaijan AZN 13,694,766 of retained earnings at the end of 2011 8,694,766 manats will be allocated to the payment of dividends in the last year, the rest will remain as retained earnings and after conclusion of the current issue will be directed to increase the authorized capital.
As reported in the bank, the shareholders also approved the action recommended by the Audit Committee and approved by Deloitte & Touche Financial statements for the year 2011.
Recall that, in the past three years (2009, 2010, 2011), the total amount of income of the bank amounted to 1.2 bn, net profit - 200.958 mln. - 15D -
Economics
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Azerbaijan President Ilham Aliyev has signed a decree to strengthen social protection for pensioners by implementing pension indexation, effective from January 1, 2025.
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The Italian government has extended the deadline for applications in the international tender for the sale of several strategic assets until February 14, confirming that a bidder from Azerbaijan remains among the frontrunners.
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An investigation led by Ghalib Toghrul, Chairman of the Board of the Center for Economic Research, has highlighted budgetary expenditures in the Azerbaijani districts of Aghdam, Fuzuli, and Khojavend, focusing on civil service projects linked to the reconstruction of territories liberated from Armenian occupation.
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On February 4, Azerbaijani Economy Minister Mikayil Jabbarov met with a delegation of the International Monetary Fund (IMF) led by Anna Bordeaux, head of the IMF mission in Azerbaijan, to discuss economic cooperation, financial sector issues and structural reforms, the ministry said.
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