Authorized capital of Azerbaijan’s NIKOIL Bank to be increased
Baku, Azerbaijan, Sept. 22
By Anvar Mammadov – Trend:
Authorized capital of Azerbaijan’s NIKOIL Bank will be increased by 150 million manats, including 60 million manats that were announced earlier, as a part of the banking sector recovery program conducted by the country’s Financial Market Supervisory Body, the Supervisory Body told Trend Sept. 22.
“A corresponding agreement between the Supervisory Body and the bank’s main investor – Topaz Investments – has already been signed,” said the Supervisory Body. “Thus, NIKOIL Bank’s authorized capital will reach 184.5 million manats until late 2016.”
Earlier, an unanimous decision to increase NIKOIL Bank’s authorized capital by 60 million manats was made during the extraordinary meeting of the bank’s shareholders in Moscow.
NIKOIL Bank operates since 1994 in Azerbaijan.