Muğanbank increases authorized capital by 10%

Baku. 3 February. REPORT.AZ/ On February 11 will begin placing the issue of ordinary non-documentary registered shares Muğanbank OJSC in the amount of 25 thousand units. Report üas told in the press service of the bank.

The total issue volume is 5 mln. AZN, each share of face value of 200 manat.

After placing the additional issue of shares authorized capital Muğanbank increased by 10% and amount to 55 mln. AZN.

Notably, Muğanbank OJSC started operations in 1992 and today has 44 branches and 6 offices, including the office in Moscow. The bank cooperates with such international organizations as the United States Agency for International Development (USAID), European Bank for Reconstruction and Development (EBRD), International Finance Corporation (IFC), World Business Capital, Inc. (WBC), Overseas Private Investment Corporation (OPIC), the Islamic Corporation for Private Sector Development (ICD), The Green for Growth Fund, Southeast Europe (GGF), the European Fund for Southeast Europe (EFSE).

At present, the bank's authorized capital is 50 million manats.