15.05.2008, 16:37
AGBANK Will Set New Subsidiary
OREANDA-NEWS. May 15, 2008. AG Bank will set a subsidiary (AG Investment) to provide professional services in the securities market. The shareholders' general meeting decided on May 13 that AG Investment with an authorized capital of AZN 100,000 will substitute the bank in the Baku Stock Exchange shareholders' staff and will become its member. The bank provided dealer and broker operations independently before. According to the law, it cannot do this now. The shareholders also decided to increase the bank's share in AG Leasing from 30% to 35%, to sell 10% of the bank's shares to Kazimir Partners and to close credit deals with several international financial institutions.
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