Bank of Baku's top management may transfer to IBA

Baku. 27 December. REPORT.AZ/ Bank of Baku is expected to appoint a new chairman of Board of Directors (BD). Report was informed in banking circles.

According to information, current chairman Abbas Ibrahimov is expected to be replaced by deputy chairman Eldar Hamidov.

A.Ibrahimov will reportedly be appointed to one of leading positions in International Bank of Azerbaijan (IBA) OJSC. Moreover, current first deputy chairman and deputy chairman of Bank of Baku BD Nahid Zeynalov and Zaur Garaisayev will probably also accompany him in top positions in IBA.

Commenting on his possible transfer, A.Ibrahimov told in his statement to Report that he is currently fulfilling his duties as chairman and Bank of Baku will make proper statement in case of any change.

Notably, Bank of Baku operates since 1994. Its authorized stock capital is 52.87 mln AZN. 35% of bank’s shares belong to Turkish company NAB Holding, 31.11% to Hikmat Abuzar oglu Ismayilov (sole owner of “Azsigorta” OJSC), 28.89% to Azpetrol oil company and 5% to Elchin Hamid oglu Isayev (Chairman of Observation Council).