|Day's Range||2.676 - 2.714|
|52 Week Range||1.522 - 2.898|
|PE Ratio (TTM)||14.09|
|Earnings Date||Aug 1, 2017|
|Dividend & Yield||0.19 (6.19%)|
|1y Target Est||2.88|
Q1 2017 Intesa Sanpaolo SpA Earnings Call
International Bank of Azerbaijan, the energy exporting country's biggest lender, said on Saturday a U.S. court had supported its petition to prevent creditors from pursuing legal action in the United States, giving it time to restructure $3.3 billion debt. The state-controlled bank said on Thursday it was suspending payments on some liabilities and seeking creditors' support to restructure more than $3 billion of debt, mostly owed to foreign creditors, to tackle bad loans left over from an oil price slump. Such a petition is not a bankruptcy filing but stops creditors from pursuing legal actions in the United States, giving debtors time to restructure their businesses.
BAKU/TBILISI, May 12 (Reuters) - International Bank of Azerbaijan, the energy exporting country's biggest lender, said on Friday it needed to restructure more than $3 billion of its debt, most owed to foreign creditors, to tackle bad loans left over from the slump in oil prices. The state-controlled bank announced on Thursday it was suspending payments on some liabilities and seeking creditors' support for restructuring. The bank's problems show how Azerbaijan is still wrestling with the fallout of a prolonged slump on the global oil market, even though prices recovered some lost ground in early to mid-2016.