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Bank of Azerbaijan to double total equity capital

05 March 2009 08:41 (UTC +04:00)

Baku. Elnur Huseynguluyev â€“ APA-Economics. As of March 1, Bank of Azerbaijan increased its authorized share capital by 3.5% to AZN 15 million, aid Khayal Sherifzade, Chairman of the Bank.
He added that the bank plans to boost its total equity capital by 2.1 times to AZN 45 million.
In September 2008, Azerbaijan State Committee on Securities registered Bank of Azerbaijanâ€™s issue prospectus of book-entry ordinary registered shares.
The face value per stock is AZN 20, the total number is 500 and the amount AZN 10 million.
After the complete realization of the shares, the bankâ€™s authorized capital will reach AZN 20 million.
As of January 1, the bankâ€™s assets stood at AZN 108.756 million, loan portfolio at AZN 88.431 million, deposit portfolio at AZN 42.490 million, total capital at AZN 19.914 million and authorized capital at AZN 14.635 million.
Owned by NEM Holding and two individuals, Bank of Azerbaijan has been in operation since 1993. The bank operates 18 branches, 32 bureaux de change, 19 ATMs and 128 POS-terminals.