OREANDA-NEWS. February 01, 2010. Shareholders of Kapital Bank, having the most developed network of branches in Azerbaijan, lifted restrictions on its loan operations.

The Bank says that currently its credit operations are conducted in normal regime.

“Disbursal of a loan depends on a kind of customers and quality of his application and loan security,” KB indicates.

The temporary restrictions were introduced in 2009 in connection with change of Bank’s shareholder structure.

Then, limit for automobile and consumer loaning (in the amount of up to AZN 3,000) was allocated. Originally moratorium was expected to last for 2 or 3 months.

In June 2009, KB formed new membership of its Board. The Board composes five members: CEO of  Kapital bank OJSC Elmar Mammadov, his deputies Yashar Mammadov, Araz Aliyev, Murad Shiraliyev and a member of board Mahetdin Mammadov.

At an extraordinary general session on 31 May 2009 the KB shareholders endorsed new membership of the Supervisory Board which now composes chairman of supervisory board Vadim Shneier and members Rauf Hajiyev, Nofel Rzayev, Araz Aghayev, Farkhad Amirbeyov.

At then meeting it was also elected new staff of KB Audit Committee.

After full privatization the KB final shareholder structure is as follows: Pasha Holding 97.5% and Bank’s 2,400 employees – 2.5%.