Luxembourg company sells stake in Azerbaijani bank

The Luxembourg company Canley Fınance SA, which controlled 7.31% of the shares of Unibank OJSC, has sold its stake, Report informs.

The share of the company was acquired by the main shareholder of the bank and chairman of the Supervisory Board Eldar Garibov.

Besides, Eldar Garibov also acquired 0.07% of the shares of other shareholders of Unibank, increasing his stake in the bank from 86.7% to 94.08%. The stake of other shareholders decreased from 5.99% to 5.92%.

Unibank was established in 2002 by merging two commercial banks of Azerbaijan - Mbank, operating since 1992, and Promtexbank, operating since 1994. The authorized capital of the bank is 149.386 million manats ($87.87 million).