Finance

Finance

Kapital Bank chooses new supervisory board

06 April 2009 08:19 (UTC +04:00)

Baku. Vugar Israfilov - APA-Economics. Azerbaijan-based Kapital Bank has announced the new composition of the Supervisory Board, elected at the shareholders’ extraordinary meeting last week.
Farhad Amirbeyov, Nofel Rzayev, Araz Aghayev and Rauf Hajiyev, representatives of AtaHolding, Azersun, Xalq Bank and Xalg SÄ±gorta respectively, became new members of the board which will be chaired by Vadim Schneir, representative of Pasha Holding.
Kapital Bank is the oldest bank of Azerbaijan, established through the merger of three state-owned banks â€“ Agrarian Industry Bank, Industry-Investment Bank and Savings Bank.
As at January 1, Azerbaijan-based Kapital Bankâ€™s assets stood at AZN 577.590 million, loan portfolio at AZN 365.847 million, deposit portfolio at AZN 481.974 million, total capital at AZN 71.910 million and authorized capital at AZN 24 million.
Kapital Bank has been in operation since 2000. The bank operates 89 branches, 298 ATMs and 469 POS terminals at present.
After privatization, Kapital Bank is owned by AtaHolding (35%), Xalg Bank (20%), Pasha Holding (15%), Azersun Holding (15%), Khalg Sighorta (7.5%), individuals (5%) and the bank staff (2.5%).