Kakhramonzhon Olimov has submitted an application to resign from the supervisory board of Anorbank
Anorbank shareholder Kakhramonzhon Olimov, who was previously put on the international wanted list, has submitted an application to resign from the bank's supervisory board. Shareholders also approved the issuance of additional shares of the bank worth 100 billion soums to strengthen its capital.
Kakhramonzhon Olimov has submitted an application to resign from the supervisory board of Anorbank
Anorbank shareholder Kakhramonzhon Olimov sent an application to resign from the bank's supervisory board on October 2, the financial institution's press service reported. This issue will be considered at the general meeting of shareholders on October 28.
In addition, at the meeting on October 5, shareholders approved an additional share issue worth 100 billion soums.
In this way, the bank expects to attract investment and strengthen its capital, as well as eliminate the factors that previously led to a rating downgrade.
"The implementation of the capitalization plan should no longer depend on circumstances related to an individual shareholder," the statement said.
According to the press service, Anorbank is currently undergoing the legislative and corporate procedures necessary for the share issue.
Anorbank stated that it continues to operate as usual, fulfill its obligations to clients, and ensure the operation of core banking services.
On October 8, Fitch Ratings downgraded Anorbank's rating from CCC+ to CCC, explaining the decision by uncertainty surrounding capital replenishment due to the situation with Kakhramonzhon Olimov.
Earlier, a card for Kakhramonzhon Olimov with a "red notice" — a request for his search and provisional arrest pending extradition — was published on the Interpol website. At the same time, the card did not specify the charge or the state that made the request.
The Central Bank also reported at the time that Anorbank was operating normally and fulfilling its obligations to clients.
According to previously published data from the Unified State Register of Enterprises and Organizations, Olimov owned 49.4% of Anorbank's shares, the Dutch company Bekamin B.V. owned 50%, and the insurance company Kapital Sug’urta owned 0.6%.