Kapital Bank’s shareholders approved the new appointments

On May 4, 2023, the General Meeting of Shareholders of Kapital Bank was held. A number of topical issues were discussed and a decision was made to appoint the Chairman of the Board and Chief Executive Officer of the bank, Mr. Rovshan Allahverdiyev, to the position of Chairman of the Supervisory Board.

Until now, this position was held by the Executive Director of PASHA Holding Mr. Jalal Gasimov, who will continue his activities as a member of the Supervisory Board. Mr. Rovshan Allahverdiyev has headed the board of Kapital Bank since 2013.

By another decision Mr. Farid Huseynov, First Deputy Chairman of the Board of Kapital Bank, was appointed Chairman of the Board and Chief Executive Officer of the bank. Mr. Farid Huseynov has been a member of the board of Kapital Bank since 2015.

It should be noted that 99.87% of the shares of Kapital Bank belong to PASHA Holding, 0.13% — to individuals. The bank's first-order capital is 600 million manats. Currently, Kapital Bank is the financial institution with the biggest branch network in Azerbaijan.