At the May 27 general meeting of shareholders on the results of 2013, it was decided to send the net profit of JSC Capital Bank for the payment of dividends to the shareholders. The bank also increased its registered capital by 24 % due to retained earnings at the end of 2012.
By the end of 2013 the shareholders received dividends totaling 21 million 301 thousand manats. Stock returns at face value of AZN 10 were 14%. Profit of 35 million 850 thousand manats will be forwarded to increase the authorized capital. Thus, the nominal value of the shares was brought to AZN 12.39.
Shareholders of Capital Bank approved the report for 2013. The Management Board informed the shareholders that the preliminary figures give grounds for assuming a higher return on equity.
JSC Capital Bank has about 170 shareholders. The holder of 99.84 % of its shares is LLC Pasha Holding. The bank was privatized in 2007. Since that time, no dividends were paid and the authorized capital was increased from 24 million to 150 million manat. -08B-
Economics
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