Baku, Azerbaijan, Aug. 5
By Eldar Janashvili - Trend:
A general meeting of shareholders of Azerbaijan’s Muganbank was held in late July 2019 in order to strengthen the capital of the company, Trend reports referring to the bank.
During the meeting, it was decided to increase the authorized capital of the bank by five million manats via issuing new shares.
In this regard, 25,000 ordinary uncertified registered shares with a nominal value of 200 manats each were transferred to Azerbaijan’s Financial Market Supervisory Authority (FIMSA) for state registration.
After their placement, the authorized capital of Muganbank will increase from 95 million to 100 million manats.
Muganbank was established in 1992 and is one of Azerbaijan’s well-known financial and banking institutions.