Bank of Azerbaijan plans to increase share capital almost by half
Azerbaijan, Baku, Aug. 13 / Trend /
Bank of Azerbaijan, according to the decision of the Central Bank of Azerbaijan dated July 25, 2012, decided to increase the share capital from the current 33.5 million to 50 million manat, the bank said on Monday.
For these purposes, Bank of Azerbaijan has registered in the State Committee on Securities issue of shares worth 16.5 million manat (825 thousand shares with face value of 20 manat each)
Thus, after placing the required number of shares of "Bank of Azerbaijan" to increase its share capital to 50 million manat, which will allow the bank to take a place in the top ten banks according to the share capital.
The official exchange rate is 0.7855 AZN to $1 on Aug.13.