Baku, Azerbaijan, Apr. 28
By Azad Hasanli - Trend:
Chairman of the Supervisory Board of the Azerbaijani AGBank Chingiz Asadullayev increased his stake in the share capital of the bank from 23.27 percent to 31.68 percent, according to the bank's website.
Changes in the stakes of other shareholders also took place, the bank said.
The share of the International Finance Corporation decreased from 17.5 percent to 4.28 percent, the share of company 'Kazimir Partners' - from 10 percent to 2.45 percent, the share of Farzulla Yusifov - from 17.767 percent to 5.79 percent.
In addition, Grigory Marchenko, who recently entered the AGBank Supervisory Board has acquired a 8.3 percent stake of the bank.
The total number of shareholders of the bank has increased from 64 to 85, of which 84 are minorities with a total hold of the bank's equity of 68.32 percent.
A general meeting of shareholders of Azerbaijani AGBank took place April 2016 and Afqan Jalilov was appointed acting chairman of the bank. Azer Movsumov, former chairman of the bank's board, has been elected member of AGBank's Supervisory Board.
The new staff of the bank's Supervisory Board is as follows: Chingiz Assadulayev (chairman), members - Farzulla Yusifov, Grigory Marchenko, Azer Movsumov, representative of the International Finance Corporation.
The bank's executive board also includes Tokay Ali-zade (deputy chairman), members - Sakina Khalafova, Elnur Musayev.
The composition of the bank's Audit Committee was also changed.
The shareholders also reconsidered the issue of increasing the authorized capital. An extraordinary meeting was held on March 4, where a decision was made to increase the bank's capital. As a result, the capital increased from 77.2 million manats to 102.2 million manats.
AGBank has been operating in Azerbaijan since 1992. Among the shareholders are the International Finance Corporation, Kazimir Partners company, as well as physical entities Chingiz Asadullayev and Farzulla Yusifov.