General Meeting of Shareholders dated 15 July 2016 at Head Office of OJSC Bank Respublika decided to inject 20 mln manats to increase Bank’s statutory capital.
Based on the decision, on 15 September 2016 Bank’s existing shareholders transferred 20 million manats to National Depository Center for the purposes of share acquisition.
This increase constituted 53% of Bank’s statutory capital, bringing the capital level to 57,5 million manats.This capital increase was performed in line with Bank’s development strategy and is aimed at ensuring sustainable development and expanding Bank’s operational and lending capacity.
Strengthening of capital will also foster improvement of corporate banking, which is one of key development areas.
This step will create new opportunities for electronic banking channels, card products and other innovative services.
Bank Respublika has started operating on 22nd of May 1992 based on license issued by National Bank of Azerbaijan Republic and ever since has been operating for the benefit of its customers for the last 24 years.
Bank’s shareholders include 2 major German financial institutions - DEG Investment Company, member of KfW banking group and Sparkassen International Development Trust, member of Sparkassen-Finanzgruppe finance group.