Russian bank almost doubles dividend payment to SOFAZ

In 2021, BTB bank paid R481.3m or $6.5m in dividends to the State Oil Fund of the Azerbaijani Republic, SOFAZ said in response to Report’s inquiry.

This figure is 81% more as against 2020 when the volume of the dividends amounted to R265.9m ($3.4m)

In keeping with the new investment policy of SOFAZ, endorsed in 2012, its investment portfolio included such financial instruments as shares, real estate, and gold. Within this framework, the fund acquired nearly 3% of the shares of the Russian bank for $500 million.