Azerbaijani bank increases capital by nearly 80 per cent
Azerbaijan, Baku, 19 March / Trend A.Akhundov /
The State Securities Committee (SSC) has registered the issue prospectus of ordinary registered shares of Dekabank, the committee's report published on its website says.
The issue of shares will be conducted through conversion of 47,970 shares at 279.7 manat into the same amount of shares with the nominal value of 500 manat.
This will result in the company's authorised capital being increased from 13.417 million manat to 23.985 million manat.
According to the decision of the Central Bank of Azerbaijan, the minimum requirement for the total capital of banks is 50 million manat as of January 1, 2014.
DekaBank was established in 1989. Its branch network includes six branches in Baku and regions.
The official exchange rate on March 19 is 0.7848 AZN / USD.