Changes to the shareholdings in the charter capital of Unibank
BAKU, Azerbaijan, Nov. 5
The share of Mr Eldar Garibov in the authorized capital of the Bank has been increased from 41,9091% to 77.3839% as a result of the transaction between major shareholders of Unibank Commercial Bank Open Joint Stock Company. Mr. Eldar Garibov has raised his shareholding in the Bank's charter capital by restoring its previous level. The share of European Bank for Reconstruction and Development (EBRD) is 9%.
The transaction was concluded through the mediation of Unicapital Investment Open Joint-Stock Company - a subsidiary of the Bank. The volume of the transaction is 16,392,273 ordinary registered undocumented voting shares which amounted to 35.4748 percent of all shares of the Bank’s charter capital.
Chairman of the Supervisory Board of Unibank Eldar Garibov stated, that the EBRD has a special contribution and important role in the activity of Unibank. He noted that EBRD as an international financial institution has been a shareholder of Unibank for many years and has brought its successful corporate governance experience to the Bank . Thus, as a major shareholder of Unibank in 2015-2017, which period is characterized with changes in the economy of the country, EBRD actively participated and supported the Bank's capital increase. Thanks to the EBRD's support, Unibank has successfully gone through this transformation and has become one of the leaders in the banking sector of the country. In this regard the Chairman of the Supervisory Board, on behalf of all shareholdersof the Bank, expressed gratitude to the EBRD management for the contribution made to the development of Unibank. He said he was pleased that EBRD would continue to be among the Bank's shareholders.
According to Ms Ivana Duarte, Head of the EBRD’s Office in Baku, cooperation with Unibank is an excellent example of a successful activity of the EBRD in the Azerbaijan’s banking sector. Unibank is among the first banks where EBRD invested and became a shareholder in the country. EBRD assisted Unibank by contributing to consolidation of its authorized capital and collaborated with it efficiently and for a long period of time. Ms Ivana Duarte expressed her pleasure with the EBRD’s contribution to Azerbaijan’s economy and its development, especially in non-oil sector, she told that the institution would expect to continue mutually beneficial cooperation with the Bank”.
Unibank CB OJSC has been operating since 1992. The bank has a wide network of services in the capital and regions. For more than 27 years, the Bank has received numerous awards from international and local organizations for its successful commercial activities and participation in social projects.
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