Azerbaijan, Baku, Dec. 13 / Trend / Shareholders of Azerbaijani Unibank have decided to double the authorized capital of the bank and increase to AZN 30mln at an extraordinary meeting, the bank said.
"The authorized capital will be increased to AZN 30mln in 2009 as a result of one of several emissions of stakes. Stakes will be distributed amongst acting shareholders of the bank," Faig Huseynov, the chairman of the Board of Unibank, said.
Rise of the capital will improve its adequacy, he said.
"Rise of the authorized capital expands financial opportunities of Unibank. Growth of the capital enables to increase loan portfolio, as well as maximum size of loan for debtor. Moreover, Rise of the capital is an additional stimulus for growth of assets and total amount of involved loan resources," Huseynov said.
At present the authorized capital of Unibank makes up AZN 15mln, which 76.43% belongs to individuals, 0.07% - juridical figures, 15.15% - the European Bank for Reconstruction and Development and 8.33% - DEG German investment corporation.
So far, the bank has issued stakes 14 times. The last issue of stakes took place in 2007. At that time, Unibank increased its authorized capital 2.27 times. Securities with AZN 2 nominal cost have been realized for AZN 4.76. Price quotation made up 238% of nominal.
Currently, aggregate capital of Unibank amounts to AZN 65mln.
The exchange rate for US dollar is AZN 0.806 on Dec. 13.
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