. At the May 18 annual general meeting of shareholders of OJSC Capital Bank it was decided on the direction of net profit in the amount of 61,924,000 AZN for the payment of dividends to the shareholders, Turan was told in the bank's Board.
For each share a dividend of 4.13 AZN was accrued (without deduction of tax on the dividend), 26 gepiks (0.26 AZN) less than the figure distributed by the results of 2014.
At the general meeting it was also decided to approve the bank's annual report for 2015. The bank's income amounted to 280.9 million AZN and its expenditures were 219 million AZN.
The authorized capital of OJSC Capital Bank is 185 million 850 thousand manats. In the circulation there are 15 million shares, with par value of 12.39 AZN each.
Over the past five years, the bank's external auditor has been Ernst & Young, which this year has also given a positive opinion.
The bank is included in the group of companies Pasha Holding, which owns 99.87% of its shares. At the general meeting the holding was represented by Yashar Mammadov, member of the Board of the bank.
The minority (approximately 170 individuals) owns 0.13% of the bank’s shares. ----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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