Azerbaijan, Baku, June 22 / Trend , N. Ismayilova/
Azerbaijani Bank Respublika will increase authorized capital roughly by 9 million manat, Bank Respublika board member Aqshin Amirov said.
"Bank's shareholders will direct dividends to consolidate bank's capital and to up authorized capital by 9 million manat," Amirov said.
He said bank's stocks will be registered on the stock exchange in late July or early August.
As of June 1, 2009, Bank Respublika total capital totaled 56.6 million manat and authorized capital 22.6 million manat.
Bank Respublika launched activities in 1992. The shareholders include two major financial institutions of Germany - DEG, member of the banking group KfW, and SIDT, member of Sparkassen-Finanzgruppe, with shareholding of 25 per cent + one share. The bank has 32 branches and offices in Baku and regions of the country.
On June 22, the official exchange rate is 0. 804 manat to $1.