BANK OF BAKU
AUDITORS REPORT AND FINANCIAL
STATEMENTS AT
31 DECEMBER 1997
Note 12 - Share capital
At 31 December 1997, the Banks share capital comprised 975
authorised, issued and fully paid shares, each having a nominal value of AZM
4,000 representing total capital stock of AZM 3,900,000.
The share capital of the Bank has been contributed by
shareholders primarily in US dollars. However, a part of the shareholders
equity was formed by fixed assets in amount of AZM 32,000.
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