Russian Bank VTB's Azerbaijani branch achieves two-fold capital growth

The State Committee for Securities (SSC) of Azerbaijan has registered emission prospectus of ordinary nominal non-documentary shares of OJSC Bank VTB (Azerbaijan) for a total of 27 million manats, the Baku Stock Exchange (BSE) reported on Friday.

According to the report, the emission includes 135 million units of shares at par value of 0.2 manats.

As a result of the placement of emission the bank's authorized capital will increase from its current level of 23,815 million manats to 50.815 million manats. The total capital of the bank as of July 1 is 16,185 manats.

The underwriter of the placement of shares is LLC Brokdil-az.

Bank VTB (Azerbaijan), has been operating in the country since 2009, and is a subsidiary of OJSC Bank VTB. Some 51 per cent of shares belong to JSC Bank VTB (Russia) and 49 per cent to AtaHolding. In the Russian banking market VTB Group holds second place by all major indicators. Among Russian banks JSC VTB Bank has the highest rating of the international rating agencies Moody's Investors Service, Standard & Poor's and Fitch.


/Trend/