A new subsidiary of the International Bank of Azerbaijan (IBB) has been established with a charter capital of 1 million manat.
The newly established company is “IBB-Innovation” Limited Liability Company. The company was registered by the State Tax Service on March 19. We bring to the agenda the creation of a new official innovation company by ABB, which is investing in startups. As such, new funds have been established in this direction in the country in the last few years. ABB, a leading bank in the innovation sector, also conducts a course with “ABB Innovation” in addition to incubation programs.
The director of the company is Hasan Eminov Etibar oglu and is registered at 67, Nizami, Nasimi district, Baku city. H. Eminov has been heading the bank’s Agile office since March 2022.
It should be noted that on December 13, 2024, an extraordinary General Meeting of ABB Shareholders was held in absentia, and at that time, the issue of establishing a subsidiary innovation company was considered and a positive decision was made.
