Baku, Azerbaijan, July 1
By Azad Hasanli - Trend:
One of the shareholders of Azerbaijan’s TuranBank has sold its share, the bank told Trend July 1.
Currently, TuranBank has 26 shareholders, including six legal entities which own 29.2 percent (14.6 million manats) of the shares. The remaining part, 70.8 percent (35.4 million manats) of the shares accounts for individuals.
However, there is no majority shareholder in the bank, as each of the shareholders owns less than 10 percent of the shares.
TuranBank started to operate in Azerbaijan in 1992. The bank has 15 branches, one division and six representative offices. Its authorized capital exceeds 50 million manats.
Official exchange rate on July 1 is 1.5425 AZN/USD.
TuranBank owns 100 percent of shares of TuranLeasing, 8 percent in Bashak-Inam insurance company and 2.4 percent in MilliKart processing center.