Another Azerbaijani bank increases capital up to new standard
Azerbaijan, Baku, October 29/Trend, A.Akhundov/
Azerbaijani State Securities Committee has registered an issue prospectus of ordinary registered non-documentary shares of "Amrahbank" JSC in the amount of 20 million manat, a message of the committee published on its website on Tuesday said.
Within the prospect some 200,000 pieces of shares at par value of 100 manat were issued.
Currently, the bank's authorized capital is 19.84 million manat, while its aggregate capital amounts to 30.64 million manat. After the placement of the emission, the authorized capital of "Amrahbank" will be brought to 39.84 million manat and aggregate capital to 50.64 million manat. According to the decision of the Central Bank, the requirement for the minimal volume of the aggregate capital for the country's banks will be increased from 10 million to 50 million manat from January 1, 2014.
Established in 1993, "Amrahbank" is one of the first and leading commercial banks of Azerbaijan. The bank offers to individual and corporative customers some services such as deposit accounts, giving loans, money transfers, documentary operations, business consultations in the sphere of investment and etc.
The official exchange rate on October 29 is 0.7845 AZN/USD.