Mugan Bank increases authorized capital

Baku. 21 December. REPORT.AZ/ Muganbank increased its authorized capital by AZN 10 million or 11.76% to AZN 85 million, Report informs citing the bank.

According to information, the capital increase will be made by issuing new ordinary, interest-bearing and book-entry shares with the face value of AAZN 200 and quantity of 50,000.

Notably, Muganbank was established in 1992. 63.5% of its shares belong to Elmir Magbet Mehdiyev (Chairman of the bank's Supervisory Board), 13.1% to Magbet Rahim Mehdiyev, 12.05% to Vafa Ahmad Valiyeva, 11.35% to Farida Jahandar Mehdiyeva.