Azerbaijani bank plans to increase its capital in 1Q18
Baku, Azerbaijan, Oct. 6
By Azad Hasanli – Trend:
Azerbaijan’s AccessBank JSC plans to increase its authorized capital by the end of 1Q18, the bank’s First Deputy Chairman Anar Hasanov told reporters in Baku Oct. 6.
AccessBank increased its authorized capital up to 140 million manats in late September that exceeds the regulator’s requirements [50 million manats] by almost three times.
Hasanov noted that as a result of capital increase, the share of the bank’s two shareholders, the European Bank for Reconstruction and Development and KfW, decreased from 20 to 18.5 percent.
Meanwhile, the bank’s other shareholder, AccessHolding, increased its share from 16 to 17 percent.
AccessBank was established in 2002.