Top management of Bank of Baku changes

Baku. 30 December. REPORT.AZ/ Chairman of Board of Directors (BD) of Bank of Baku OJSC Abbas Ibrahimov resigned.

Report was informed in the bank.

According to information, current deputy Eldar Hamidov was appointed as temporarily acting chairman.

A.Ibrahimov will reportedly be appointed as deputy chairman of BD International Bank of Azerbaijan (IBA) OJSC. His new appointment is expected to be confirmed in January.

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).