Management of Azerbaijani bank may change

Business Materials 30 March 2018 17:46 (UTC +04:00)

Baku, Azerbaijan, March 30

By Azad Hasanli - Trend:

Shareholders of Azerbaijan’s Unibank will discuss the appointment of chairman and members of the board May 24, said a message posted on the ESID (Electronic System for Information Disclosure) portal.

The shareholders will also discuss the appointment of the chairperson of the bank’s supervisory board and the deputies.

At the meeting, the shareholders will also consider approval of the bank’s financial report for 2017, election of members of the bank’s management bodies, election of the chairman and members of the audit committee, appointment of an external auditor for 2018 and approval of transactions of special significance.

Unibank has been operating in Azerbaijan since 2002. The bank was founded following the merger of two private commercial banks – MBANK and PROMTEXBANK.

Following the merger, the European Bank for Reconstruction and Development (EBRD) and the German Investment and Development Corporation (DEG) became shareholders of Unibank with 18.5 and 25.99 percent, respectively.

Chairman of supervisory board Eldar Garibov holds 41.9 percent of shares, other natural and legal entities – 3.8 and 7.6 percent, respectively.

The bank’s authorized capital last year amounted to 125.686 million manats and the total capital - 67.488 million manats.