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Bank Respublika increases nominal capital

06 July 2009 11:20 (UTC +04:00)

Baku. Vugar Mustafayev â€“ APA-Economics. Azerbaijan State Security Committee registered the Bank Respublika sharesâ€™ emission prospect.

The committee officials told APA-Economics, total volume of the emission is 8 mln AZN and one shareâ€™s nominal value is 2 AZN. According to the emission prospect the placement will be provided via the Baku Stock Exchange (BSE). Respublika Invest Company will be its underwriter.

BSE experts said the bank is expected to start the placement of the shares by late July. Due to successful emission, Bank Respublika will increase its nominal fund 35.4% at 30,6 mln AZN.

Bank Respublika has operated since 1992. German DEG Investment Company and Sparkassen International development Trust Company purchased â€œ25%+1â€ stake in the bankâ€™s nominal capital in 2005.

The bank assets reached 386,2 mln AZN, deposit portfolio â€“ 140 mln AZN, loan portfolio â€“ 248,5 mln AZN, total capital 51,8 mln AZN and nominal capital â€“ 22,6 mln AZN to April 1, 2009.