Azerbaijan's Xalq Bank enters top three in terms of capitalization
Azerbaijan, Baku, May 17 / Trend /
The Azerbaijani Xalq Bank increased its authorized capital by 19.278 million manat to 72,828 million manat, the bank reported.
The bank increased its authorized capital thanks to the completion of the emission of its shares
As a result of the changes, Xalq Bank ranked third in the local banks rating for the size of the banks' authorized fund.
Xalq Bank began its activity in December, 2004. According to the results of 2009, Xalq Bank confidently occupies the fourth place in the ranking financial institutions in Azerbaijan.
The official exchange rate is 0.8036 manat to $1 May 18.