Azerbaijan's largest bank seeks to acquire stake in foreign lender

Azerbaijan's largest bank, the International Bank of Azerbaijan, plans to acquire a stake in a foreign lender.

According to Report, citing the bank, the issue has been included on the agenda of the next general meeting of shareholders scheduled for May 7.

The meeting will be held online, with shareholders voting remotely through personal accounts on the Investor Portal of the National Depository Center.

The agenda includes approval of the bank's externally audited financial and management reports for 2025, dividend payments based on last year"s financial results, the establishment of an asset management subsidiary, the acquisition of a controlling stake in a foreign bank, and changes to the composition of the bank's supervisory board.

The International Bank of Azerbaijan was established in 1992 and is the country's largest bank by assets.