Baku, Azerbaijan, Feb. 23

By Azad Hasanli – Trend:

Azerbaijan’s Rabitabank has increased authorized capital by 12.8 million manats to 101.3 million manats, the bank said in a message Feb. 23.

The bank’s authorized capital was increased at the expense of existing shareholders. The aggregate capital of the bank reached 104.6 million manats.

The main goal of increasing the bank’s capital is to strengthen stability of the bank and ensure its participation in strategic projects.

Rabitabank has been operating in Azerbaijan since 1993.

(1.7001 manats = 1 USD on Feb. 23)

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