Azerbaijani Unibank plans to increase capital
Azerbaijan, Baku, Jan.10 / Trend, N. Ismayilova /
The Azerbaijani Unibank plans to increase its authorised capital in the first half of 2012, the bank told Trend on Tuesday.
"We regularly increase authorised capital and over the past two years it has been nearly tripled, but now there is a need to increase it again," the bank said.
As the bank indicated, increasing the capital is planned taking into account the bank's profit. The net operating profit of Unibank hit 6.5 million manat as of Dec.1.
Paid-up authorised capital of Unibank amounts to 44.919.360 million manat. Face value of each share is 2.16 manat. The total capital as of early December, amounted to 58.57 million manat.
Unibank was established on Oct. 15, 2002 as a result of a merger between the MBANK and PROMTEKHBANK private commercial banks. Unibank is a universal finance and credit institution offering retail and corporate services.
The shareholders of the bank are 11 bodies, financial institutions such as the European Bank for Reconstruction and Development (15.1515 per cent) and the German Investment Corporation DEG (8.3333 per cent).
The official exchange rate is 0.7863 manat to $1 on Jan.10.