VTB Bank Azerbaijan to increase authorized capital

By Trend

The VTB Bank Azerbaijan management’s forecast assumes the profit worth six million manat ($3 million) at the end of 2019, Trend reports referring to Chairman of the Management Board of VTB Bank Azerbaijan Yevgeniy Kirin who was speaking about the bank's plans for profit for 2019.

Kirin made the remarks at the press-conference in Baku on Dec. 19.

“At the same time, VTB Bank Azerbaijan does not plan to pay dividends and will direct profit to increase the authorized capital, which will give the bank more opportunities to expand its credit policy,” Kirin said.

(1 USD = 1.7 AZN on Dec. 19)