Azerbaijan, Baku, July 2 / Trend /
The Azerbaijani State Securities Committee registered the issue prospectus of ordinary registered shares of Azer-Turk Bank, the State Committee said.
Emission volume hits 990,520 manat, the number of securities - 990,520 units at a nominal value of each share in one manat. Currently, the authorized capital is 10 million manat. After the placement capital will be brought to nearly 11 million manat.
The founders intend to increase the bank's capital at the expense of profits in 2010. The capital will be raised through the investment of shareholders. Thus, until the end of the year authorized capital of Azer-Turk Bank will increase to 15 million manat.
The profit of the bank in 2009 amounted to about one million manat.
Azer-Turk Bank was established May 25, 1995 by Turkish bank TC Ziraat Bank A.S. and Azerbaijani Agricultural and Industrial Bank (now non-banking credit organization Agrar Credit). Share holding of the Turkish capital in AzerTurk Bank may be increased in connection with the privatization of Agrar Credit. It owns 46 percent of shares in the authorized. The remaining 4 percent belong to Azerbaijan Turan Bank.
The Bank is a member-co-founder and shareholder of the National Processing Center MilliKart.
On July 2, the official exchange rate is 0.8038 manat to $1.