OREANDA-NEWS. November 20, 2009. The State Committee for Securities has registered an issue prospectus of ordinary registered book-entry shares of Bank of Azerbaijan with overall face value of 10 million manats.

The Bank reports that it will be issued totally 500,000 shares with face value of 20 manats each. Thus, after placement of the announced quantity of shares BoA charter capital will reach 25 million manats.

The shares will be placed by public offering at the Baku Stock Exchange from December 2009 to December 2010. The persons desiring to acquire shares can apply to the BSE member organization with brokerage license.

“Our major goal is to get in TOP 10 of domestic leader banks by the end of 2010, and planned charter capital rise is one of the important steps for achievement of this purpose,” BoA chairman of board Khayal Sharifzadeh claimed.

Currently the Bank renders quite a wide range of services to the population. For the first 9 months of 2009 it succeeded to achieve high results. In particular, overall volume of its assets grew by 32.89% up to 144.5 million manats, credit portfolio by 24.71%, and deposit portfolio by 41.72%.