Kazakh bank increases authorized capital

Business Materials 13 March 2019 14:09 (UTC +04:00)

Baku, Azerbaijan, Mar. 13

By Rashid Shirinov – Trend:

The authorized capital of Kazakhstan-based Tengri Bank has increased by 4 billion tenge, Trend reports via Kazakh media.

"Tengri Bank has increased the number of its shareholders via foreign businessmen investing in the Kazakh economy. Earlier, the board of directors of the bank decided to place shares through subscription among an unlimited number of investors. The placement price of one share made up 1,050 tenge," the bank said.

Thus, four foreign companies entered the authorized capital of Tengri Bank. From November 2018 to February 2019, the bank placed 3,894,500 ordinary shares. Thus, the authorized capital of the bank increased by 4,089,225,000 tenge.

It should be noted that in October last year, Moody's Investors Service Ltd international rating agency assigned the long-term local and foreign currency deposit rating of B2 to Tengri Bank. This reflects the agency's opinion on the bank's ability to meet its financial obligations.

(377.99 KZT = 1 USD on Mar. 13)


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