DUSHANBE, November 20, Asia-Plus – To improve its financial opportunities AgroInvestBonk continues emission of shares.
Sharif Qaraqulov, the head of the AgroInvestBonk department for deposits and attracted resources, told Asia-Plus that the bank intends to issue further 60,000 shares, bringing its issued share capital from 21 million somonis to 27 million somonis. At present AgroInvestBonk declared capital includes 210,000 shares, valued at 21 million somonis. The face value of one share is 100 somonis.
According to him, before 2006, the face value of one share was 1.00 somoni, but last year’s meeting of shareholders made a decision to raise the face value of share and it was set at 100 somonis. “It was done for the purpose of determining a real number of shareholders interested in management of the bank,” said Qaraqulov, “Following this a number of shareholders has decreased from 16,000 to 1,500; 97.8 percent of AgroInvestBonk shareholders are physical entities.”
Besides, last year’s results show that the bank is able to raise annual dividends from 11.5 percent to 30 percent and keep this policy in future as well, according to the AgroInvestBonk official. “This year, AgroInvestBonk has offered European Bank for Reconstruction and Development (EBRD) and International Finance Corporation (IFC) to become shareholders of the bank and participate in the management of it; the EBRD and IFC directors’ boards are currently considering this issue,” said Qaraqulov, “Participation of these international financial institutions will allow increasing opportunities of AgroInvestBonk on the country’s financial market.”
Founded in 1992, AgroInvestBonk, with headquarters in Dushanbe, has main branches in Khorog, Khujand, Kulob and Qurghon Teppa and 57 other branches across the republic. According to Tajik central bank, the AgroInvestBonk regulative capital has amounted to 47.1 million somonis (equivalent to more than US$13 million) as of October 1, 2006.
