Royal Bank of Baku to raise share capital by 24%

Royal Bank of Baku to raise share capital by 24%
# 09 October 2008 14:19 (UTC +04:00)
Baku. Elnur Huseynguluyev – APA-Economics. Royal Bank of Baku will raise its share capital by 23.5% to AZN 21 million.
Zaur Ferzeliyev, Chairman of the Board, told APA-Economics that capitalization will be funded by existing shareholders and the stated issue of stocks will be paid in soon.
As of July 1, Royal Bank of Baku’s assets stood at AZN 85.067 million, loan portfolio at AZN 55.976 million, deposit portfolio at AZN 34.641 million, total capital at AZN 18.061 and authorized capital at AZN 13.941 million.
At present the bank operates 21 branches, 22 ATMs and 59 POS terminals across the country. Royal Bank of Baku was established by a U.S. citizen in 1993 as OZ Bank which was renamed in 2003.
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