IBA boosts capital stock by $50m
The International Bank of Azerbaijan (IBA), the
country’s biggest bank, has increased its capital stock.
IBA shareholders decided at a recent meeting that 40 million manats ($50 million) of the bank’s third-quarter profits would be channeled into beefing up its capital stock, which stands at 200m manats ($250m), without additional emission of securities.
IBA was established in 1992. Its customers include over 65,000 businesses and about 768,000 private individuals.*
IBA shareholders decided at a recent meeting that 40 million manats ($50 million) of the bank’s third-quarter profits would be channeled into beefing up its capital stock, which stands at 200m manats ($250m), without additional emission of securities.
IBA was established in 1992. Its customers include over 65,000 businesses and about 768,000 private individuals.*
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