Finance

Home page

Finance

YapiKredi Bank to double share capital

23 September 2008 14:30 (UTC +04:00)

BakÄ±. Nicat Mustafayev â€“ APA-Economics. Azerbaijanâ€™s State Committee for Securities has registered YapiKredi Bankâ€™s issue prospectus of book-entry ordinary registered stocks.
The face value per stock is AZN 0.02, the total number is 317.45 million and the amount AZN 6.349 million.
The issue will be floated through public offering on Baku Stock Exchange.
Flotation is expected to start in October.
If successful, the bankâ€™s share capital will double to AZN 12.698 million.
YapiKredi Bank Azerbaijan, owned by Turkeyâ€™s YapiKredi Bank (80%) and International Finance Corporation (IFC) (20%), has been in operation since 2000.
As at July 1, its assets stood at AZN 82.973 million, loan portfolio at AZN 23.618 million, deposit portfolio at AZN 54.743 million, total capital at AZN 15.359 million and authorized share capital at AZN 6.349 million.
The bank operates 2 branches, 12 ATMs and 38 POS terminals.