Changes occur in shareholders staff of Azerbaijani-Turkish State Bank
Baku, Azerbaijan, Jan.7
By Maksim Tsurkov - Trend:
The staff of the shareholders of Azer-Turk Bank JSC underwent changes again, reducing the share of the Turkish shareholder Ziraat Bankasi to 13.45 percent, the bank told Trend Jan.7.
In addition, the insurance company Qala Heyat and the only reinsurance company in Azerbaijan AzRe entered the staff of shareholders, the bank said.
In connection with this, the distribution of equity shares changed. The share of the State Committee for Property Affairs of Azerbaijan decreased from 85 percent to 75 percent, the share of Turkish Ziraat Bankasi fell from 14 percent to 12.37 percent, while the share of Ziraat Bank Intenational AG increased from 1 percent to 1.08 percent.
The bank said that after the changes, the share of AzRe reinsurance company amounts to 6.55 percent, and the insurance company Qala Heyat - 5 percent.
The authorized capital of the bank at the moment is 50 million AZN.
The official exchange rate for January 7 is 0.7844 AZN / USD.
According to the Azerbaijani president's decree dated August 7, 2009, the Ministry of Finance of the Republic of Azerbaijan is involved in management of the banks having an authorized capital of the state-owned shares.
Azer-Turk Bank JSC was founded on May 25, 1995. Previously, the share of Ziraat Bankasi in the joint bank was 46 percent, 4 percent was owned by Ziraat Bank Intenational AG, and 50 percent belonged to the State Property Issues Committee of Azerbaijan.
The block of shares owned by the Azerbaijani side was redistributed in the summer of 2014. When founding the bank, the co-owners were Agro-Industrial Bank (currently, Aqrarkredit non-banking credit organization - 46 percent) and Turan Bank (4 percent).
Edited by CN
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