Kovser Bank renamed

Kovser Bank renamed
# 28 January 2015 13:53 (UTC +04:00)

Baku. Musa Ahmadov - APA-Economics. Kovser Bank, which sold its shares to external investor to meet Central Bank’s demand on total capital, has been renamed, chairman of bank’s Management Board Heydar Ibrahimov said.

“Related information will be publicly available soon”, he said.

In connection with the renaming of Kovser Bank, the Central Bank of Azerbaijan has granted a licence to Caspian Development Bank OJSC for banking activity. According to this license, the bank has a right to receive deposits or repayable funds from individuals and legal entities, as well as give loans, transfer money and carry out cash settlements.

By the way, a contest has been announced on creation of new style (logo and corporate design) of the bank. Prize is AZN 1,000.

The shareholders of the Kovser Bank will hold a meeting on March 6 to discuss the sale of a part of bank’s shares.

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