International Bank of Azerbaijan distributed profit for 2013

JSC International Bank of Azerbaijan held May 20 a shareholder meeting, at which decisions were made on the organizational and financial issues for 2013.

Bank extended the sparse information about the decisions taken, details of which were not disclosed. During the meeting approved the financial report for 2013. Among the solutions - payment to shareholders is a certain part of the net profit for 2013 and the direction of the means to increase the share capital by increasing the nominal value of shares. The meeting elected new members of the Supervisory Board and the Audit Committee of the bank.

According to the financial report, in 2013 the net financial income of the group of companies International Bank of Azerbaijan was 58.964 million manat. In what ratio it is distributed was not reported. The State represented by the Ministry of Finance owns 50.2 % of the shares.

By the end of 2012 IBA issued dividends totaling 14.8 million , in 2011 - 8.7 million manat. Over the past 5 years the nominal value of shares of the bank was increased twice from 20 to 26 kopecks from the proceeds profit.

As with previous years, the IBA did not warn about 1,800 minority shareholder of the general meeting by registered media and notices. - 08D-