TODAY.AZ / Business

IBA to increase authorized capital by 2.5 times in 2007

28 November 2006 [11:31] - TODAY.AZ
The stockholders have come to agreement to increase the authorized capital of the International Bank of Azerbaijan (IBA) to AZN 100m in 2007.

IBA Head Office in Baku told APA that the principal aim is to conform the bank's capitalization to assets and credit portfolio.

The current authorized capital of the bank is AZN 40m. The State's stake is 50.2% and the rest is owned by the bank staff and private shareholders.

URL: http://www.today.az/news/business/33192.html

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