The Russian-owned ‘VTB’ subsidiary bank in Azerbaijan, whose shareholder is the State Oil Fund (SOFAZ), has been paying no dividends since 2021. According to local press, this was announced by the SOFAZ's executive director Israfil Mammadov. He reminded that a 2.95% stake in ‘VTB Bank’ was acquired in 2013 in order to diversify the SOFAZ's investment portfolio. Note that ‘VTB Bank's assets are clos...

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