2024-08-05 23:45:43
Our interlocutor is Nabi Aliyev, Deputy Chairman of the Management Board of ABB Bank
– ABB Bank recently released its financial results. Can we predict that the Bank will end this year with a significant profit for the first half of the year?
– ABB Bank completed the first half of 2024 with a net profit of over 172 million manat, while in the same period last year this figure was 164 million manat. We completed 2023 with a net profit of 322.3 million manat, which is the highest profit figure for both ABB Bank and the country’s banks in recent years. The results of the first six months of this year show that ABB Bank is highly likely to make significant profits again this year. This implies significant returns for our current and new shareholders.
– The subscription for ABB Bank shares will end on September 10. Will the thousands of new shareholders of the Bank be able to receive dividends from this year’s profit?
– Of course, our new shareholders will receive dividend income not only from the current year, but also from the financial results in the following years. The Bank’s management will propose to include the issue of paying dividends for 2024 on the agenda of the next General Meeting of Shareholders. We are confident that, as in previous years, this proposal will be supported at the General Meeting of Shareholders. This means that new shareholders will also receive dividends from ABB Bank until the middle of next year.
– What will be the amount of dividends for shareholders?
– ABB Bank has been consistently paying dividends to its shareholders for the past 6 years. The amount of dividends has been constantly increasing in recent years. Thus, in 2022, we paid 125 million manats, in 2023 – 156 million 600 thousand manats, and in 2024 – 185 million manats. The dividend per share was 2.8 gapiks in 2022, 3.4 gapiks in 2023 and 4.1 gapiks in 2024. In percentage terms, the dividend yield on ABB Bank shares in 2024 increased to 15.1% of the par value of shares. According to our forecasts, next year the dividend income for our shareholders will exceed 15%.
– How many investors have subscribed to ABB Bank shares at the moment?
– More than 13 thousand investors have already placed more than 17 thousand applications. This is a historic figure for the securities market of our country, since never before has such a number of investors participated in the process of mass offering of shares. In just one and a half months, such a large number of our citizens have placed applications for shares of Bank ABB, which indicates great faith in the future of our Bank and high interest in shares of Bank ABB. Currently, the total number of shareholders of Bank ABB is about 1800 people. Based on such mass interest in shares, we can confidently say that we will achieve the goal of attracting tens of thousands of new investors to our Bank.
– As far as we know, now applications for shares can be placed in branches of other banks…
– Yes, you can subscribe to shares through the ABB mobile application, in most branches of banks in our country, as well as through investment companies operating in Azerbaijan. Our recommendation for investors intending to purchase shares is to speed up their decision and place applications on time. The subscription period is shortening, the current process will end on September 10.
On the other hand, investors who have submitted an application for shares before September 10 receive interest income of 7% per annum on the amount of the application placed in Bank ABB. This interest income is paid to investors in advance, on the day of the application. Those who subscribed to the shares earlier also took advantage of this opportunity.
In addition, from August 1, we launched a lottery for investors who applied for shares of Bank ABB. Investors who applied for shares in August and September will have a chance to win up to 5,000 manats.
– Will it be possible to sell shares of Bank ABB on the secondary market?
– After the placement is completed, each shareholder will be able to sell their shares through ABB Invest or other investment companies. In addition, until the end of September, shares can be sold through the ABB mobile application. Thus, the shareholder will be able to sell their shares at any time in the most convenient way. The Bank is currently conducting relevant events with interested organizations to ensure high liquidity in trading in ABB Bank shares.