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International Bank of Azerbaijan will complete the share capital increase in September

27 January 2009 16:04 (UTC +04:00)

Baku. Elnur Huseynguluev - APA-Economics. International Bank of Azerbaijan will get the additional stock issue of AZN 100 million paid up in September to double its authorized capital to AZN 200 million.
The bank said AZN 93.046 million of the issue has already been realized. The bankâ€™s major shareholder, the Ministry of Finance, has paid in its share. The additional issue of shares was announced in September, 2008.
As Azerbaijanâ€™s and the regionâ€™s largest bank, the International Bank of Azerbaijan with a governmentâ€™s 50.2% stake is owned by the bank staff (10%) and private shareholders (40%).
As of 1 October 2008, its assets stood at AZN 4 208.654 million, loan portfolio at AZN 2 631.728 million, deposit portfolio at AZN 2 367.476 million, total capital at AZN 328.794 million and authorized capital at AZN 130.078 million.