Details added (first version posted on 13:43)
Baku, Azerbaijan, April 17
By Anvar Mammadov – Trend:
Azerbaijan's AccessBank intends to increase its authorized capital by late 2018, First Deputy Chairman of the Board of AccessBank Anar Hasanov told reporters in Baku on April 17.
"If to analyze the 2017 results, the reserves created on USD loans significantly affected the capital. Last year, the shareholders twice carried out capital injections into the bank. This shows the level of trust and support of the shareholders," Hasanov said, adding that work is now underway on another capital increase.
Hasanov further stressed that following the increase, the authorized capital of AccessBank will not only reach the level of the regulator's demand, but exceed it.
As of late 2017, the first-tier capital of the bank amounted to 23.66 million manats, while the second-tier capital - 20.33 million manats.
The bank's total capital was 43.95 million manats.
($1 = 1.7 AZN on April 16).