International Bank of Azerbaijan increases stock capital

Baku. 24 January. REPORT.AZ/ Issue of shares aimed that increase of stock capital of International Bank of Azerbaijan OJSC (IBA) by 600 mln AZN or 93.56% has been finalized. Report was informed in IBA.

According to information, Financial Market Supervision Chamber yesterday registered report on outcomes.

Issue includes 2 222 222 223 ordinary, unsecured mortgage shares at par value 0.27 AZN. Thus, total number of bank’s shares reached 4 597 360 178.

Increase of banks stock capital to 1 241.287 mln AZN was carried out as one of ABB’s rehabilitation measures. This decision as one of steps towards strengthening bank’s stock capital will ensure correlation between increase of assets and capital adequacy.

New top management of ABB, which operates in financial market of the region for 25 years, tackles measures aimed at financial and organizational rehabilitation, implementing objectives set forth by decree of the President of the Azerbaijan Republic on July 15, 2015.