BAKU, Azerbaijan, May 8. The International Bank of Azerbaijan (IBA) has decided to pay 200 million manat ($117.6 million) in dividends to its shareholders, IBA Chairman of the Board Abbas Ibrahimov said at a press conference dedicated to the bank's sustainability report today, Trend reports.
"Yesterday, the general meeting of IBA shareholders was held. The meeting decided to pay 200 million manat in dividends to shareholders. Thus, IBA has been paying high dividends to its shareholders for the 8th consecutive year. In accordance with the distribution of shareholders' shares, 184 million manat ($108 million) of dividends will be paid to the state, and the rest to other shareholders," he noted.
The dividends will be paid to shareholders on May 20.
The International Bank of Azerbaijan (IBA) commenced operations as a fully joint-stock commercial bank on January 10, 1992. The Bank’s Head Office is situated in Baku. Currently, IBA ranks among the leading banks in the South Caucasus region in terms of assets, client base, and the scope of international operations.
Operating through 78 branches and 9 representative offices across various regions of Azerbaijan, the Bank provides comprehensive banking services to both individual and corporate clients. IBA serves over 43,000 corporate clients and more than 3 million individual clients. The Bank employs a workforce exceeding 4,000 professionals.
