The joint JSC Azer-Turk Bank brought the level of authorized capital up to 50 million manat in accordance with the requirements of the Central Bank of Azerbaijan.
According to the report of the financial structure, the former limit through the placement of additional shares rose by 13.1% (5,776,341 AZN). The price of each of the securities is 1 manat.
As previously reported Turan, the composition of the bank's shareholders changed, too. The share of the State Committee on Property Issues decreased by 10% (from 85% to 75%), Turkish Ziraat Bank - from 14% to 12.37%, Ziraat Bank International - increased from 1% to 1.08%. In addition, the new shareholders are: reinsurance company AzReTekrarsigorta (6.55% of the share) and specialized life insurance company QalaHayatSigorta (5%).
Azer-Turk Bank was established in May 1995. --17D-
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