Baku, Azerbaijan, July 22
By Zulfiyya Gurbanova - Trend:
Azerbaijani Finance Ministry bought 50 percent share of "AzerTurkbank" JSC shares, the bank told Trend.
"The Finance Ministry has purchased 46 percent of shares from "Agrarcredit" non-bank credit organization and 4 percent from "TuranBank". The said transaction was concluded in this month," the bank noted.
There is no information about future activities of "AzerTurkbank", however, as reported by the bank, the plans include increasing the authorized capital, which currently stands at 12.24 million AZN.
Some 46 percent of the remaining shares belong to Turkish TC Ziraat Bankası, and 4 percent to Ziraat Bank Intenational AG (Germany).
The first general meeting of shareholders in the new composition will be held on September 2.
AzerTurk Bank was established on May 25, 1995.
The official exchange rate on July 22 is 0.7843 AZN / USD.
Edited by CN