Atra Bank Not Going to Merge with Other Outsiders

Atra Bank is trying to stand the marathon on compliance with the capitalization requirements of the Central Bank of Azerbaijan. In October this year it increased the authorized capital from 21.3 mln. AZN to AZN 35 000 800.

Just the day before, there was another issue (+ 4.2%), which allowed the bank to bring the level of capital to 36,468,800 manat. According to the information on the website of the bank, by the end of the year the level of aggregate capital will be increased to 50 mln. manat. Recall, according to the decision of the Central Bank of Azerbaijan, by 1 January 2015, all banks must have a minimum capital of 50 mln. AZN, in order to reduce interest rates on loans granted.

The State Committee for Securities in November 2013 registered the additional issue of shares of AtraBank totaling $ 40 mln. manat to increase authorized capital to 50,424,800 manat. Emissions are divided into 100,000 shares with par value of 400 manat for each security.

JSC AtraBank was established in 1991. It operates 13 branches, 2 offices and 24 currency exchange points. The bank has 10 branches in Baku and 3 in the regions. Its shareholders are more than 30 individuals. --17D-