OJSC International Bank of Azerbaijan increases share capital

OJSC International Bank of Azerbaijan held on June the 14th general meeting of shareholders at which a decision was made on the payment of dividends at the rate of 1 gepiks per share with par at 24 gepiks. The profit for 2012 will be increased to 26 face value shares gepiks.

On carrying out the shareholders, the total number of more than 1,800 businesses and individuals, as in previous years, had not been notified. According to the press service of the bank, the payment of dividends was spent 14.1 million manat of AZN 58.5 million of the net income of the IBA Group. The parent company, International Bank of Azerbaijan made a profit in the amount of 52.9 million manat.

To increase the share capital from 340 million to 368.3 million manat they spent sent 28.3 million manat. In April this year, the bank completed the placement of shares worth 100 million manat. After this issue, the share of the state represented by the Ministry of Finance increased from 50.2% to 56.12% (170,480 thousand).

The International Bank of Azerbaijan was established in January 1992. It has subsidiaries in Georgia and Russia, a processing center, insurance and leasing companies. - 08D-