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Turanbank raises share capital

20 November 2008 09:42 (UTC +04:00)

Baku. Vugar Mustafayev â€“ APA-Economics. Azerbaijan State Committee on Securities has registered Turanbankâ€™s issue prospectus of book-entry ordinary registered shares.
The face value per stock is AZN 1 000, the total number is 1 000 and the amount AZN 1 million.
The issue will be realized through public offering on Baku Stock Exchange.
Exchange analysts say the placing is expected to start in December.
If successful, the companyâ€™s authorized capital will rise by 6.7% to AZN 16 million.
As of October 1, Turanbankâ€™s assets stood at AZN 86.1 million, up loan portfolio at AZN 64.7 million, deposit portfolio at AZN 42.3 million, total capital at AZN 17.8 million and authorized capital at AZN 15 million.
Turanbank, owned by 17 legal and 37 individual bodies, has been in operation since 1992. The bank operates 11 branches, 21 bureau of exchange, 9 ATMs and 54 POS terminals throughout the country.