Bank Of Baku

Criteria for selling 50% interest of Kapital Bank to be set by March

Criteria for selling 50% interest of Kapital Bank to be set by March
# 12 February 2007 16:25 (UTC +04:00)
Criteria for privatization of 50% shares of Kapital Bank may be set by March, Chairman of the Management Board of the Bank, Rauf Rzayev, told APA.
Azerbaijani President Ilham Aliyev Friday issued a decree on privatization of state-owned Kapital Bank.
Rauf Razayev said 50% of the bank will be privatized at the first stage.
“The Bank will be privatized at the second stage. The Government set a target to modernize the bank and to improve efficiency. The authorized capital will more than doubled at the first stage. The second stage will be carried out in 2 to 3 years,� he said.
He noted all criteria for acquisition of a share in the bank will be developed. /APA/
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