Bank Of Baku

5th anniversary of EBRD’s entering DemirBank’s capital

5th anniversary of EBRD’s entering DemirBank’s capital
# 23 November 2010 14:16 (UTC +04:00)
Baku. Elnur Huseynguluyev – APA-Economics. Today is the 5th anniversary of contract between DemirBank and EBRD (European Bank for Reconstruction and Development) on the participation in DemirBank’s capital.

Bank says the EBRD was one of the shareholders buying 25%+1 share packet in DemirBank’s capital.

According to bank’s chairman of Board of Directors Roman Amirjanov, EBRD’s entering the DemirBank’s capital was the result of successfully cooperation with EBRD.

After EBRD, the bank signed a contract with The Netherlands Development Finance Company (FMO) about participation with 10% share packet in DemirBank’s capital. These great financial organizations are represented in DemirBank’s Supervisory Board.

Note that, DemirBank has been in cooperation with EBRD since 1999. EBRD has allocated $ 47 mln to DemirBank.

DemirBank has been in operation since 1989.
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