Azerbaijan International Bank increases its Russian subsidiary’s capital

The International Bank of Azerbaijan (IBA) doubled the authorized capital of IBA-Moscow, its subsidiary in Russia, up to around $61.4 million (4.16 billion rubles).

It has been decided recently to make an additional contribution of $30 million (about 2.05 billion rubles), said the Russian corporate information center.

The additional contribution is to be paid within six months.

The IBA-Moscow was founded in 2002.

Source: Trend