OREANDA-NEWS.  February 14, 2012. The largest credit institution in South Caucasus, OJSC "International Bank of Azerbaijan ( IBA) raises equity capital by 42%.

The bank reports that IBA’s equity capital will be raised up to AZN 340 million through additional issue of shares for AZN 100 million- such a decision was made  at general meeting of the bank shareholders. Placement of shares will start after registration of issue prospectus in State Securities Committee.

Finance Ministry of Azerbaijan is  the bank’s main shareholder (50.2%).