"Bank VTB Azerbaijan" soars its authorized capital

"Bank VTB Azerbaijan" soars its authorized capital The Bank’s capital nearly makes 316 mln. AZN
April 10, 2018 11:41
Bank VTB Azerbaijan soars its authorized capital

Baku. 10 April. REPORT.AZ/ “Bank VTB Azerbaijan” OJSC increased its authorized capital by  265 mln. AZN or 6.215 times and raised it to  315.815 mln AZN.

Report informs, 1.325 billion new, ordinary, registered, undocumented shares have been put into circulation for this purpose with nominal value of each share equaling to 0.2 AZN.

The shares have been purchased by main stakeholder of “Bank VTB Azerbaijan” – “Bank BTB Russia”. Currently the Russian party controls 99.999995% of shares of its subsidiary company functioning in Azerbaijan. And the remaining 0.000005% is owned by Adigozel Aghayev (Chairman of Board of Directors of "Ata Holding” LLC).

Notably, "Bank VTB Azerbaijan" was established in 2009 at the premises of "AF Bank" OJSC functioning since 2003. 

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