"Bank VTB (Azerbaijan)" increases authorized capital 6.2-fold

Baku. 24 January. REPORT.AZ/ In first quarter of 2018, authorized capital of "Bank VTB (Azerbaijan)" OJSC will be increased 265 million AZN. 

Report informs referring to the Bank.

According to information, President Ilham Aliyev has met with the President of "Bank VTB" and Chairman of the Board of Directors Andrey Kostin within the World Economic Forum in Davos, Switzerland.

During the meeting, the sides confirmed their interests  in development of financial cooperation. A. Kostin told the President of Azerbaijan about plans to increase the authorized capital of the subsidiary bank in Azerbaijan by 6.2-fold.

The sides also discussed about participation of "Bank VTB" in the organization of involving investments to Azerbaijan's economy, especially financial funds from the international markets to the country.

Notably, currently, authorized capital of "Bank VTB" (Azerbaijan) is 50 815 000 AZN, each with 0.2 AZN  nominal value, 254 075 000 units, unlicensed, ordinary shares.