Baku, Azerbaijan, Oct. 9
Trend:
Azerbaijan’s Unibank OJSC plans to increase its capital by 21 million manats, said the bank in a message Oct. 9.
This issue will be discussed at an extraordinary meeting of the bank’s shareholders on Oct. 13. Unibank will for the second time increase its capital in 2017. In June, the bank’s authorized capital was increased by 70 percent and it currently exceeds 119.686 million manats.
The bank’s shareholders are convinced that the capital increase will help Unibank to maintain and strengthen its leading positions in the country’s financial market.
Unibank OJSC was established through the merger of two commercial banks in Azerbaijan – Mbank and Promtekhbank on Oct. 15, 2002. It is one of the biggest banks in the country with participation of foreign capital.
Currently, the share of international financial institutions – German Investment Corporation (DEG, 24.37 percent) and European Bank for Reconstruction and Development (EBRD, 19.41 percent) – is about 44 percent in the authorized capital of Unibank.
(1.7002 AZN = $1 on Oct. 9)