Azerbaijani bank to enlist financial support from foreign shareholder

Business Materials 18 February 2009 19:12 (UTC +04:00)

Azerbaijan, Baku, Feb.18 / Trend corr N. Ismayilova / Despite the world financial crisis, the International Investment Bank (IIB) of Bahrain will render a financial support to Azerbaijani bank Amrahbank, senior accountant of the Azerbaijani bank Fazil Huseynov said. 

"The bank's staff of shareholders will remain unchanged. Despite the world financial crisis, the IIB will show its support to the bank," Huseynov said.

According to Huseynov, the bank's activity will not change but financial indices.

"The bank awaits the IIB to open a new credit line but it's early to talk about its term and sum," Huseynov said. 

The IIB obtained 49 percent of shares of the Azerbaijani bank in June 2008.

On Feb.1, the authorized capital of Amrahbank made up 12.82 million manats, joint capital- 121.91 million manats and assets-63.08 million manats. The credit portfolio of the bank comprised 39.51 million manats and deposit portfolio- 31.805 million manats.

The official currency rate of $1 is 0.8063 manats on Feb.18.

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