"International Bank of Azerbaijan" OJSC (ABB) reduced its authorized capital by 15,639,428.97 manats or 1.26% from 1,241,287,248.06 manats to 1,225,647,819.09 manats.

The decision in this regard was taken at the next general meeting of IBA shareholders held on June 30. According to the decision, 57,923,811 shares of the Bank with the ISIN code AZ1004004581, each with a nominal value of 27 kopecks, was withdrawn from circulation.

It should be noted that the "International Bank of Azerbaijan" OJSC was established in 1992. The bank's shareholders are the Ministry of Finance, the State Service for Real Estate Affairs under the Ministry of Economy, "Agrarkredit" CJSC non-bank credit organization (BOKT), other legal entities, and individuals.