Azerbaijan, Baku, Sept. 25 /Trend A.Akhundov/
The State Securities Committee (SSC) of Azerbaijan has registered the emission prospectus of ordinary registered book-entry shares of JSC Zaminbank for a total of 10 million manats, the committee's report said on Wednesday.
The emission prospectus includes 50,000 shares at par value of 200 manats.
As a result of placement of shares, the authorized capital of JSC Zaminbank will be increased from 42.18 to 52.18 million manats.
By the end of the first half of 2013, the total capital of the bank amounted to 59.18 million manats, which has already exceeded the new requirement of the Central Bank of Azerbaijan for the minimum total capital of existing banks.
According to the decision of Central Bank of Azerbaijan, the requirement was increased to 50 million manats. Banks should raise capital to that level till January 1, 2014.
Zaminbank was established on November 16, 1992, based on license No15 of the Central Bank of Azerbaijan, enabling fulfillment of all kinds of bank operations in national as well as in foreign currencies. Zaminbank currently owns 38 branches and 17 departments.
The official exchange rate for September 25 is 0.7844 AZN/USD.