Change in management of Azer-Turk Bank

Baku. 2 December. REPORT.AZ/ Extraordinary meeting of Azer-Turk Bank OJSC Observation Council was held today.

Report was informed in the bank.

According to information, Khalid Nuredding oglu Ahmadov was elected to Board of Directors (BD) and appointed as acting Chairman to replace Farhad Adigozalov.

Notably, K.Ahmadov functioned as chairman of BD of under liquidation Bank Standard CJSC and occupied top positions in Unibank and Bank of Baku.

Notably Azer-Turk Bank OJSC was founded in 1995. Its authorized stock capital is AZN 50 million. 75% of bank’s shares belong to State Committee on Property Issues on behalf of Azerbaijani government, 12.37% to Turkish ‘Ziraat Bankasi’, 1.08% to ‘Ziraat Bankasi International’, 6.55% to ‘AzRe Tekrarsigorta’ OJSC, 5% to ‘Gala Life Insurance’ OJSC.