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Azernegliyyatbank raises capital

Azernegliyyatbank raises capital

12 May 2009 13:14 (UTC +04:00)

Baku. Elnur Huseynguluyev â€“ APA-Economics. Azerbaijan-based Azernegliyyatbank plans to raise its share capital by 40.2% to AZN 15 million in 2009, said Fakhraddin Baghirov, Chairman of the Bankâ€™s Supervisory Board.

He said the bank would float its stated additional share issue of AZN 4.3 million within a year to increase its share capital through existing shareholders.

Azernegliyyatbank has been in operation since 1989.

As of July 1, its asets stood at AZN 19.975 million, loan portfolio at AZN 16.050 million, deposit portfolio at AZN 8.043 million, total capital at AZN 11.203 million and authorized capital stock at AZN 11.203 million. It operates 4 branches across the country.

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