United Credit Bank predicts to triple share capital

United Credit Bank predicts to triple share capital
# 03 November 2008 12:40 (UTC +04:00)
Baku. Elnur Huseynguluyev – APA-Economics. Azerbaijan’s United Credit Bank predicts an 83% rise in its share capital to AZN 22.108 million.
The bank said the authorized capital is expected to increase 26.7% to AZN 28 million in 2009 and rise 25% to AZN 35 million.
The share capital rise will be financed by existing shareholders.
As of October 1, the bank’s assets stood at AZN 33.514 million, loan portfolio at AZN 22.167 million, deposit portfolio at AZN 8.675 million, total capital at AZN 13.428 million and authorized capital at AZN 12.108 million.
The bank operates 5 branches, 4 ATMs and 4 POS terminals across the country.
Rossiyski Kredit Azerbaijani-Russian bank was established by 1 legal and 2 individual bodies in 1996 and was renamed in 1998 as United Credit Bank.
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