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2 years ago
International Bank of Azerbaijan says to raise charter capital by $315 mln in new share issue
February 12, 2016 / 12:14 PM / 2 years ago

International Bank of Azerbaijan says to raise charter capital by $315 mln in new share issue

BAKU, Feb 12 (Reuters) - The shareholders of Azerbaijan's largest bank, International Bank of Azerbaijan, have taken a decision to increase the bank's charter capital by 500 million manats ($315 million) to 1.14 billion manats by issuing additional shares, the bank said.

International Bank of Azerbaijan is majority owned by the Azeri state.

The country has been battling to defend its currency as its economy has come under pressure from the collapse in global oil prices. (Reporting by Nailia Bagirova; Writing by Alexander Winning; Editing by Andrew Osborn)

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