Uni Bank Plans to Increase Its Authorized Capital by 17.5%

Baku / 09.10.17 / Turan: At an extraordinary meeting of shareholders of Uni Bank, which will be held on October 13, it is planned to discuss the issue of increasing the authorized capital, the bank said.

The authorized capital will be increased to 140.7 million manat, by 21 million manat or 17.5%.

"The increase in capital will help Uni Bank maintain and strengthen its positions in the country"s financial market. The emerging stabilization of the country"s economy and an increase in Uni Bank"s activity within the framework of corporate and retail lending created a serious basis for further expansion of the bank"s activity," the report said.

In June 2017, the bank increased its authorized capital by 70% - up to 119.7 million manat.

OJSC Uni Bank was established in October 2002. Among the shareholders are the EBRD (European Bank for Reconstruction and Development) and DEG (German Investment Corporation), whose shares in the capital are 19.41% and 24.37% respectively. -71D-