Access Bank increased its authorized capital up to 119.85 million manat through the purchase of 8.2 million new shares by the bank’s shareholders for the amount of 34.85 million manat, the bank said.
Repurchase of the shares was carried out by the acting shareholders on a pro rata basis. Thus, the shares of each of them in the authorized capital of the bank remained unchanged. The process of issue of shares and registration was successfully completed on March 29.
Shareholders of Access Bank are the Black Sea Trade and Development Bank (20%), the European Bank for Reconstruction and Development (20%), the International Finance Corporation (20%), KfW - Kreditanstalt für Wiederaufbau (20%), Access Microfinance Holding AG (16.53%), and LFS Financial Systems GmbH (3.47%). --71D
Economics
-
On July 26, the Ministry of Economy hosted a meeting with entrepreneurs from the non-oil industry to explore ways to stimulate local production and enhance export potential.
-
Azerbaijani internet service providers Aztelekom and Baktelekom will introduce substantial changes to their pricing structure starting August 15, the companies announced today. Under the new tariffs, the minimum internet speed will rise to 100 Mbit/s, with the cost per Mbit/s decreasing from 0.45 AZN to 0.25 AZN. As a result, monthly charges will be set at 25 AZN for 100 Mbit/s, 30 AZN for 150 Mbit/s, and 36 AZN for 250 Mbit/s.
-
Independent experts suggest that Azerbaijan may be on the verge of another devaluation of its currency, the manat, due to a shrinking trade and payment surplus. The anticipated economic adjustments come amidst a decline in foreign currency inflows and reduced oil production.
-
Azerbaijan’s Foreign Minister Jeyhun Bayramov met today with Ahmed Moallim Figi, the Minister of Foreign Affairs and International Cooperation of Somalia, at the Azerbaijani Foreign Ministry. This meeting followed a discussion held the previous day between Figi and Azerbaijan’s Economy Minister Mikail Jabbarov.
Leave a review