Audi plans capital increase

Board of Directors convene extraordinary assembly on April 10

Bank Audi is planning to increase its capital by issuing a new series of Preferred Shares. The Board of Directors of Bank Audi – Audi Saradar Group called holders of the bank’s Common Shares to an extraordinary general assembly on April 10 to discuss the capital increase.

Bank Audi’s assets totaled $28.7 billion in December 2011. The bank is getting ready to open its first branch in Turkey this September. Bank Audi - Turkey will start operations with a capital of around $300 million.

Reported by Hanadi Chami