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    "Eurobank" OJSC of Azerbaijan to attract new major shareholder

    The Bank informed the Central Bank of Azerbaijan

    Baku. 4 December. REPORT.AZ/ "Eurobank" OJSC of Azerbaijanin intends to attract a new investor in the ranks of the existing shareholders in the near future. Report was told by the Chief Accountant of the bank Hasan Bayramov.

    The main goal is to implement the requirements of the Central Bank of Azerbaijan (CBA) for the minimum total capital of commercial banks in the country.

    G.Bayramov said that information about the sale of the bank, spread by some media, does not correspond to the reality: "Information on the sale of the bank is false." Eurobank" is only going to attract additional shareholder in order to fulfill the requirements for a minimum capital".

    According to the Chief Accountant, one of the largest holdings of Azerbaijan, who offered the share of 50% of the share capital (controlling stake) will be a new shareholder. The bank has already informed the Central Bank of Azerbaijan about the issue.

    G. Bayramov also noted that, 12 individuals are current shareholders of the bank. With the arrival of a new shareholder, 6 of them will sell their shares.

    At the moment the authorized capital is 11 mln manats. At the request of the CBA, the aggregate capital of all commercial banks in the country by January 2015 should reach at least 50 mln manats.

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