United Credit Bank predicts 83% rise in share capital next year

United Credit Bank predicts 83% rise in share capital next year
# 23 September 2008 08:07 (UTC +04:00)
Baku. Elnur Huseynguluyev – APA-Economics. Under the strategic plan, Azerbaijan-based United Credit Bank intends to raise its share capital by 83.3% to AZN 22 million, said the bank’s chairman Vahid Aliyev.
He added that the capitalization will be increased by the existing shareholders.
The stated capital will be paid in by the end of 2009.
Rossiyski Kredit Azerbaijani-Russian bank was established by 1 legal and 2 individual body in 1996 and was renamed in 1998 as United Credit Bank.
As at July 1, the bank’s assets stood at AZN 30.878 million, loan portfolio at AZN 21.134 million, deposit portfolio at AZN 6.553 million, total capital at AZN 13.416 million and share capital at AZN 12.108 million.
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