Share of Azerbaijani state in International Bank exceeds 91%

Baku. 24 January. REPORT.AZ/ After increase of stock capital of International Bank of Azerbaijan OJSC (IBA) by 600 mln AZN or 93.56%, shareholders’ percentage also changed.

Report informs, all of 2 222 222 223 ordinary, unsecured mortgage shares at par value 0.27 AZN were acquired by main shareholder of credit institution Ministry of Finance. Unicapital was assigned as underwriter of the deal. As an outcome of the deal, the Ministry increased its share from 54.96 to 76.73%.

On the other hand, share of “Agrarkredit” CJSC non-bank loan organization, engaged in management of bank’s troubled assets dropped from 28.18 to 14.56%. Total shares of 12 private enterprises and 1761 individuals also dropped from 18.86 to 8.71%. If to take into account that Azerbaijan government holds 100% of “Aqrarkredit”s shares, we can say that state’s shares in IBA makes up 91.29%.

Notably. IBA was founded in 1992. Its current authorized stock capital is 1 241.287 mln AZN.