Bank Of Baku

Rabitebank increases nominal capital

Rabitebank increases nominal capital
# 06 July 2009 15:08 (UTC +04:00)
Baku. Vugar Mustafayev – APA-Economics. Azerbaijan State Security Committee registered the Rabitebank shares’ emission prospect.

The committee officials told APA-Economics, total volume of the emission is 1.5 mln AZN and one share’s nominal value is 20 AZN. According to the emission prospect the placement will be provided via the Baku Stock Exchange (BSE). Capital Partners Company will be its underwriter.

BSE experts said the bank is expected to start the placement of the shares in July. Due to successful emission, Rabitebank will increase its nominal fund 17.7% at 10 mln AZN.

Rabitebank has operated since 1993. The bank assets reached 85,605 mln AZN, deposit portfolio – 67,717 mln AZN, loan portfolio – 65,185 mln AZN, total capital 12,027 mln AZN and nominal capital – 8.5 mln AZN to April 1, 2009. The bank has 22 branches, 4 exchanges, 22 ATMs and 92 POS-terminals.
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