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Omni Finance targets to double loan portfolio

Omni Finance targets to double loan portfolio

11 December 2009 15:07 (UTC +04:00)

Baku. Elnur Huseynguluyev - APA-ECONOMICS. Azerbaijan-based nonbank lending institution Omni Finance targets to double its loan book to AZN 1 million, said Emin Sadikhov, Chairman of Omni Finance.

According to him, it is planned to float bonds to not only raise the loan portfolio but also to triple the share capital to AZN 660 000.

"The State Committee for Securities has registered the issue prospectus of secured book-entry bearer bonds.
Face value per bond is AZN 1 000, number of bonds is 500, the amount of issue is AZN 500 000. Bonds will be floated from December", he added.

Owned by 3 local individuals, Omni Finance launched operation in 2003.

It currently operates branches in Beylagan, Agdjabedi and Sumgait.

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