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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The State Oil Company of Azerbaijan (SOCAR), Albania’s Ministry of Infrastructure and Energy, and Albanian gas company Albgaz signed a memorandum of understanding (MoU) on Sunday in Baku during the 29th session of the UN Climate Change Conference (COP 29).
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The Green Energy Corridor project, aimed at delivering green energy from Azerbaijan through Georgia and the Black Sea to Romania, Hungary, and Bulgaria, has entered the investment assessment phase, according to Georgian Deputy Prime Minister and Minister of Economy and Sustainable Development, Levan Davitashvili.
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Azerbaijan’s state oil company SOCAR and Italy’s Italgas signed a cooperation agreement on Sunday during the 29th session of the United Nations Framework Convention on Climate Change (COP29), aimed at accelerating the energy transition.
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Turkey aims to achieve carbon neutrality by 2053, transforming key sectors of its economy in line with a vision of "net-zero emissions and green development," President Recep Tayyip Erdogan announced at COP29 in Baku on Monday.
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