UniBank to more than double its aggregate capital

UniBank to more than double its aggregate capital
# 14 May 2007 14:09 (UTC +04:00)
The aggregate capital of Unibank CB will reach AZN 40 million following the resolution that the Shareholders of the Bank passed at the GSM in May this year.
The execution of this resolution will have increased the aggregate capital of the Bank by more than 2.5 times by the end of 2007.
To achieve this, it is planned to organise an additional issue of shares of Unibank worth AZN 8.4 mn, thereafter the authorised capital of the Bank will reach AZN 15 mn.
The Shareholders of the Bank approved the conclusion of a number of major transactions to raise the aggregate amount exceeding USD 100million from a number of overseas banks, and considered and approved the Report of the Executive Board of the Bank and the 2006 Statement of the Audit Committee of the Bank. It will be remembered that the 2006 Audit of Unibank was carried out by PriceWaterhouseCoopers. According to the audit findings, the assets of Unibank rose by 2.09 times until they reached AZN 140,386million in 2006.
UniBank is owned by the EBRD (15.15%), DEG Investment Corporation (8.3%), legal entities (0.9%) and individuals (75.62%).
The bank was established in 1992. /APA-Economics/

Politics

#
#

THE OPERATION IS BEING PERFORMED