Azerdemiryolbank raises capital by 29%

Azerdemiryolbank raises capital by 29%
# 05 September 2008 10:52 (UTC +04:00)
Baku. Elnur Huseynguluyev – APA-Economics. Azerdemiryolbank has completed the additional stock offering of AZN 3 million.
The bank said the decision on the additional issue of stocks was taken at a general meeting of shareholders in June.
The face value per stock was AZN 0.2 and the total number of stocks was 15 million.
The bank’s paid-in capital rose 28.8% to AZN 13.4 million after successful placement of stocks.
The total capital stood at AZN 34.3 million as at September 1.
As of July 1, Azerdemiryolbank’s assets stood at AZN 200.2 million, loan portfolio at AZN 153.2 million, deposit portfolio at AZN 61.5 million, total capital at AZN 32.8 million and authorized capital stood at AZN 13.3 million.
Azerdemiryolbank has been in operation since 1989.
Its shareholders include the European Bank for Reconstruction and Development (EBRD) and the Netherlands Development Finance Company (FMO).