Bank Of Baku

IBAR to increase authorized capital by AZN 500 mln

IBAR to increase authorized capital by AZN 500 mln
# 21 October 2013 14:33 (UTC +04:00)

Considering growth dynamics of the Bank a 4-year capital increase program was adopted during the Meeting. According to this program, Shareholders approved Bank’s capital increase by AZN 200 mln. in the first place followed by an additional AZN 300 mln. over the following 3 years (AZN 100mln. each year), which in total represents AZN 500 mln. capital increase.

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THE OPERATION IS BEING PERFORMED