Bank Of Baku

UniBank to double capital

UniBank to double capital
# 15 April 2009 15:12 (UTC +04:00)
Baku. Elnur Huseynguluyev – APA-Economics. Azerbaijan-based UniBank will double its share capital to AZN 30 million.

The bank said the capitalization will be funded though the issue of 7.5 million ordinary registered book-entry stocks amounting AZN 15 million.

The State Committee for Securities registered the bank’s issue prospectus on March 30.

UniCapital will underwrite the issue which is the largest in UniBank’s history.

The issue will be realized through public offering on Baku Stock Exchange from April 17.

As of January 1, the bank’s assets at AZN 417.563 million, loan portfolio at AZN 319.247 million, deposit portfolio at AZN 123.671 million, total equity capital at AZN 64.064 million and share capital at AZN 15 million.

UniBank is owned by the EBRD (15.15%), DEG Investment Corporation (8.33%), legal entities (0.9%) and individuals (75.62%).
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