Azerbaijan Industry Bank raises share capital

Azerbaijan Industry Bank raises share capital
# 15 January 2010 08:52 (UTC +04:00)
Baku. Elnur Huseynuuluyev – APA-Economics. Azerbaijan Industry Bank intends to increase its share capital by 10.5% to AZN 22.1 million by April 1, 2010, said Hasan Badalov, deputy chairman of the bank.

According to him, the increase in share capital will be funded through 2009 yearend profit.

He added that an additional issue of shares worth AZN 2.1 million will be sold by the end of March.

Azerbaijan Industry Bank (Azerbaycan Senaye Banki) (formerly Capital Investment Bank - CI Bank), has been in operation since 1996.

It operates 9 branches across the country.
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