OREANDA-NEWS. ASB Bank - Azerbaijan Industrial Bank conducted a non-standard-for-domestic-banks increase in the nominal value of the shares without increasing the share capital.

The State Securities Committee of Azerbaijan reported that on 2 August registered an issue of ASB Bank’s shares with ISIN-code AZ1002005457 - 28 million shares with par value of 1 manat. They were converted from the issue of Bank’s shares with ISIN-code AZ1001005458 - 140 million shares with par value of 0.2 manats.

As a result of these manipulations Bank’s equity capital remained at the level of 28 million manats. Since 1 January the current capital of the domestic bank should be at least 50 million manats.