Azerbaijani Unibank increases its authorized capital to nearly $90 million

Business Materials 18 December 2013 22:17 (UTC +04:00)

Baku, Azerbaijan, Dec. 18


Azerbaijani Unibank increased its authorized capital to 70.565 million manats ($89,960 million) within the emission of shares.

Unibank completed the placement of 2,205,900 non-documentary registered preference shares at par value of 2.72 manat, according to a message released on Wednesday.

The total amount of the emission was 6,000,048 manats. The state registration of the report on emission was conducted on December 16, 2013.

Unibank was established on October 15, 2002 as a result of the merger of two private commercial Azerbaijani banks, Mbank and Promtechbank. Unibank is a universal financial and credit institution rendering retail and corporate services. The bank's shareholders include the European Bank for Reconstruction and Development (15.1515 percent) and the German Investment Corporation DEG (8.3333 percent).

The rest of the equity has been distributed amongst the shareholders as follows: Eldar Garibov owns 65.3384 percent, Zemfira Jafarova - 5.5 percent, minor shareholders - 5.6768 percent.

The official rate for Dec. 18 is 0.7844 AZN/USD.

Translated by E.A.