Bank Of Baku

Azernaqliyyatbank to raise authorized capital stock by 2.4 times

Azernaqliyyatbank to raise authorized capital stock by 2.4 times
# 02 April 2009 09:35 (UTC +04:00)
Baku. Vugar Israfilov – APA-Economics. Azernaqliyyatbank’s shareholders have passed a decision to raise the authorized capital stock by 2.4 times from AZN 10.7 million to AZN 25.7 million.
The bank said it already registered an issue prospectus of stocks with the State Committee for Securities.
Besides, the shareholders have made significant changes to the bank’s business strategy and marketing policy to further improve corporate governance, risk management practice, increase the range of deposit and credit products and expand card business.
The bank is planning to set up 8 branches in Baku, Gandja, Sumgait, Shirvan, Mingechevir, Gusar and Khachmaz within 6 days.
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