The Management Board of Para Bank has convened an emergency general meeting of the shareholders. The shareholders will discuss the issue of the continuation of the activities of the legal entity as a different company after the liquidation of the bank.
The bank does not comment on the agenda. Perhaps we are talking about the transformation of the bank into a non-bank credit organization.
Last week the Financial Markets Control House made a decision on liquidation of the banking license of Para Bank.
The equity of the shareholders of the bank is 38 million AZN. At the beginning of 2016 the bank's assets were estimated at 169 million AZN, and the liability - 155.8 million AZN.
Recently, the bank announced capital rise by another 15 million AZN.
The bank is controlled by the family of Eldar Guliyev. ----- 08B
Economics
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