The General Shareholders Meeting of the International Bank of Azerbaijan (main shareholder - the Ministry of Finance, Head of the Supervisory Board - Deputy Finance Minister Azer Bayramov) has decided to increase the authorized capital of the IBA.
According to the largest bank, strengthening will be more than three-quarters - 78% (up to 1 billion 141.3 million manat). This can be achieved at the expense of additional issue of shares for 500 million AZN.
The meeting also decided on changes in the number of procedures for commercial projects, as well as to strengthen the control, for which they made changes in the composition of the Audit Committee.
IBA has been working since 1992, and its authorized capital (641.3 million manats) includes the main share (51.07%) belonging to the government in the face of the Ministry of Finance, while the remaining shares belong to private owners of the securities. --17D-
Economics
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