Azerbaijan, Baku, June 8 / Trend E. Aliyev /
The general meeting of ASB Bank's shareholders, which was held the day before, confirmed its intention to increase the bank's authorized capital to the normative level of 50 million manats, a report of the bank released on Saturday said.
According to the data of May 2013, the bank's authorized capital is 33.1 million manat, the report said.
By the decision of the management of the Central Bank of Azerbaijan dated July 25, the minimum size of aggregate capital of the existing banks was increased from the current 10 million manats to 50 million manats. The new requirement for the capitalization of banks will come into force from January 2014.
ASB has been operating since 1996. Currently the bank has nine branches, two departments, 35 ATMs and 571 POS-terminals.
The official exchange rate for June 8 is 0,7848 AZN / USD.