Bank of Azerbaijan will increase nominal capital twice

APA informs that the new investors may also join nominal capital in the placement of additional stock issue, but they may have only 20% share. Probably, foreign strategic investors will be attracted into the project.

European Bank for Reconstruction and Development is named as a possible investor. Additional stock issue will be probably placed at Baku Stock Exchange.

Bank of Azerbaijan is the changed name of corporate Azerbaijan-Turkey Ish Bankasi Azerbaijan (The Business Bank) Commercial Bank. The name was changed as a result of changes among shareholders. Turkish Turanlar Dish Bankasi (The Bank Abroad) sold its shares to NEM Co. Dubai. At present, Bank of Azerbaijan has the nominal capital of AZN10 million. Face value per its stock is AZN20.