Why didn`t IBA pay dividends to its shareholders? - STATEMENT

28.10.2019,15:45


October 28, Fineko/abc.az. Since the International Bank of Azerbaijan (IBA) has undergone a difficult stage of restructuring of assets and liabilities in recent years, and its available resources are aimed at strengthening the financial stability, the issue of paying dividends to the IBA shareholders was not on the agenda during this period.

ABC.AZ informs that such a statement was made by IBA chairman of board Abbas Ibrahimov.

According to Ibrahimov, Bank's financial stability has already been ensured.

"The recent revival of the country's business life has further strengthened Bank's capital position. The IBA has already been operating at a profit and has the ability to pay dividends to its shareholders. At the last meeting of the shareholders, the matter of dividend paying to the Bank's shareholders following the results of fiscal year 2018 was considered and a decision was taken to pay dividends for the past year in the amount of 150 million manats to the shareholders by 0.0326 manats of profit per share," Ibrahimov emphasized.