UniBank to Negotiate Contract with Moody`s Investors
Azerbaijan, Baku / Trend , corr I. Khalilova / The international rating agency is to estimate the Unibank's activity and issue its rating. Eldar Garibov, the Chairman of the Supervisory Council of the Unibank, reported on 14 March that the bank will negotiate a contract with Moody's Investment agency in the near future.
The major reason for receiving the rating is due to the bank's long-term plans. "Some changes will be made in the strategic plan. We have very ambitious plans and are taking into consideration the fact that Azerbaijan intends to issue Eurobonds. We are also about to enter into the open market," Garibov noted.
Due to the bank's intentions to increase the stock, the American deposit receipts will be issued by the end of 2007. The decision to increase the Unibank stock is expected to be made during the regular bank's shareholders meeting. "The emission of the stock will be issued by the stockholders of the bank, but involvement of more foreign stockholders is not excluded," Garibov added.