Shareholders of OJSC Capital Bank will hold a general meeting on April 4 in the business center of Izmir Plaza, at which financial and organizational issues will be discussed. The Supervisory Board will be revised. The shareholders will distribute the profit for 2016.
The meeting will also change the Constitution and so on regulations.
According to the financial report, in 2016 the net profit of OJSC Capital Bank amounted to more than 52 million manats.
In 2016, the shareholders fully directed net profit of 2015 in the amount of 61,924,000 manats, or AZN 4.13 (without any deduction of tax on dividend) per share for dividends to the shareholders.
The authorized capital of OJSC Capital Bank is 185 million 850 thousand manats. In circulation there are 15 million shares, with par value of AZN 12.39 each.
The bank is included in the group of companies Pasha Holding, which owns 99.87% of its shares. Minority interest (approximately 170 individuals) owns 0.13% of shares of Capital Bank.
The bank has the largest branch network in Azerbaijan and serves 3 million physical and 22,000 legal entities. ----08D
Economics
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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.
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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.
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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.
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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.
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