New Board of Azerbaijani Kapital Bank formed

Business Materials 6 June 2009 11:36 (UTC +04:00)

Azerbaijan, Baku, June 6 / Trend /

Rauf Rzayev released from the post of chairman in the Kapital Bank on his own initiative by the decision of the Board of the bank.

The Board formed a new composition of management of Kapital Bank out of five men: Chairman of the Board Elmar Mammadoglu Mammadov, and Vice-chairmen Yashar Zeynalabdioglu Mammadov, Araz Ismailoglu Aliyev, Murad Ogtaioglu Shiraliyev and member of the Board Makhatdin Tairoglu Mammadov.

Vadim Shneir, a representative of Pasha Holding, was elected the chairman of the Supervision Board of Kapital Bank by the decision of shareholders of the bank in March 2009.

Kapital Bank was privatized through two stages in 2007-2008.

The organization of bank's shareholders was changed after privatization of Kapital Bank. Bank's shareholders are Pasha Holding - 97.5 percent and 2,400 employees of the bank own 2.5 percent of shares. 

Bank has 87 branches in regions, two independent offices and 97 ATMs, as well as 12 exchanges. Bank will extend activity abroad and will open two representatives in CIS countries.