Today the Baku Stock Exchange will take decision on the listing of 100% stake in Bank of Baku on the alternative segment of the quotations of securities.
The brokerage company BoB Broker (subsidiary of JSC Bank of Baku) at the next stage will be carried out exchange transactions for the purchase and sale of shares.
Note that totally outstanding are 3,400,000 shares of Bank of Baku at face value AZN 15.55 each. With authorized capital of 52 million 870 thousand manats in 2013-2014 the bank paid shareholders a dividend of 16 million 168 thousand and 35 million 397 thousand manats respectively. By the beginning of this year, the undistributed profit of the bank amounted to 68.1 million manats.
Currently, the shareholders of Bank of Baku, which is mainly known as a retail bank, are composed of: NAB Holding - 40% (controlled by Nadir and Bahram Oromi), Oil Company Azpetrol – 28.89% (direct shareholder - Ibrahim Mammadov), Hikmet Ismayilov – 21.11% and Elchin Isayev - 10%. ---08B
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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