22 Aug. 2013
Authorized capital of Rabitabank exceeded AZN 51 million
Rabitabank increased its authorized capital for the next time and the capital reached to AZN 51.4 million. It’s the third increase of the authorized capital from the beginning of 2013. So Rabitabank fulfilled the requirement of the Central Bank regarding the limit of authorized capital of the banks operating in the country.
Decision on increasing the authorized capital of the bank was made in the General Meeting of Shareholders in 2012. Measures were taken for increasing the authorized capital of the bank in 2013 in stages and ordinary, registered, non-certificated shares were emitted and successfully placed.
Rabitabank celebrates 20thanniversary of its establishment this year. The assets of the bank were AZN 254 million and loan portfolio AZN 138 million as of August 20, 2013. The bank is represented in 14 regions of the country by wide branch network consisting of 20 branches, 2 divisions and 1 representative office.