Kapital Bank's manat bonds presented to the market with “Opening Bell” at the Baku Stock Exchange
The country's first bank, Kapital Bank, continues to introduce new financial instruments in both local and foreign currencies to the capital market. Previously, bank officials had announced the issuance of bonds amounting to 100.000 000 (one hundred million) manat. On June 10, 2024, the placement of bonds worth 50.000 000 (fifty million) manat began with a ceremonial Opening Bell event at the Baku Stock Exchange.
The event was inaugurated with a speech by Oktay Qasimov, Chief Commercial Officer of the Baku Stock Exchange, who emphasized the importance of increasing public investment in the capital market. Farid Aliyev, Director of the Treasury Department at Kapital Bank, spoke about the significance of diversifying investment instruments in the financial markets. “The Azerbaijani financial market is an environment with high development potential. As one of the market leaders, we aim to enhance the role of the capital market in the financial system of our country and contribute to economic development. Our goal is to develop market infrastructure, strengthen trust in the market, and expand market access opportunities. Therefore, we are introducing new financial instruments in both foreign and local currencies.”
Rauf Qurbanov, Deputy Chairman of the Board of “PASHA Capital Investment Company,” stated, “Our citizens who wish to evaluate investment opportunities can benefit from the reliable, convenient, and fast service offered by the two market leaders - Kapital Bank, the bank with the largest branch network in the country, and PASHA Capital, the investment company with the largest market share. Investors purchasing the bonds will be able to obtain all accrued interest up to that day without any loss of interest if they wish to sell the bonds back.”
The nominal value of each of the offered bonds is 100 manat, the annual interest rate is 10%, the payment period is every 30 days, and the circulation period is 1 year. The bonds are undocumented, registered, interest-bearing, and unsecured. The underwriter for the placement is “PASHA Capital Investment Company” CJSC.
It should also be noted that Kapital Bank had previously completed the placement of subordinated bonds with a total value of 35,000,000 (thirty-five million) US dollars.
Kapital Bank, the country's first bank, is part of PASHA Holding. Kapital Bank has the largest service network in Azerbaijan with 120 branches and 53 departments all over the country. For more detailed information about the bank’s products and services, please refer to https://kapitalbank.az website, 196 Call Centre or the bank’s various social network pages. To apply for a consumer loan visit https://kbl.az/prgtk, for a Birbank installment card visit https://kbl.az/prcrc.
