The shareholders of JSC Bank BTB completed the capitalization of the bank to the minimum set by the Central Bank, 50 million manat. The procedure took place in the Baku Stock Exchange on May 8.
According to the stock exchange, the right of priority was enjoyed by all the three shareholders who paid AZN 5,160,000 for the acquisition of 5,160 common documentary shares. At the same time, according to the shareholders' decision of February this year, the shareholders paid only 218 thousand manat in cash. The remaining funds (4.92 million manat) were sent to the capital from the retained earnings of the bank.
JSC Bank BTB was established in 2011 with registered capital of 12 million manat. Currently, the shareholders include Nigar Ismayil Gizi Mehdiyeva - 75%, Sadig Rza Ismayil Oglu - 19% and Mahmudova Tukazban Agha Gizi - 6%. -----08B
Economics
-
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.
-
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.
-
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.
-
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.
Leave a review