Bank Respublika Increases Authorized Capital by AZN 20 Million

At the general meeting of shareholders of Bank Respublika it was decided to increase the authorized capital by AZN 20 million, the bank said.

The purpose of increasing the authorized capital is to provide the bank with additional capital and guarantee the bank’s stability and stable development. Thus, the authorized capital of the bank will be raised to 77 million 461 thousand manat.

It should be noted that the assets of Bank Respublika totaled 912 million 117 thousand manat in the result of 2016, the liabilities were 871 million 793 thousand manat, and the capital was 40 million 324 thousand manat.

The bank completed the year 2016 with a loss of 34 million 609 thousand manat.

Bank Respublika has been operating since 1992. Among the shareholders there are two representatives of financial institutions of Germany - a member of the banking group KfW (State Bank of Germany), the investment company DEG, and Sparkassen International Development Trust, a member of the financial group Sparkassen-Finanzgruppe.   ----71D

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