CREDIT BANK OF MOSCOW has increased its equity capital by RUB 4.5 bln
On 26 July 2011 the Central Bank of the Russian Federation registered CBM’s equity capital increase for the amount of RUB 4.5 bln (more than USD 160 mln), which brought the Bank’s authorized capital up by 71,7 per cent to RUB 10.8 bln. Decision on the authorized capital increase was made at the expense of the shareholder’s funds by way of the 9th additional issue of ordinary nominal uncertified shares of the Bank.
After the equity injection the Bank’s capitalization is to be further strengthened and its capital adequacy ratio, being amply above the BIS requirement as at 1Q2011, namely, 13.6 per cent, is to further increase. Apart from the above mentioned, since the beginning of the year 2010 five capital injections in the total amount exceeding RUB 7 bln from the shareholder in the form of subordinated loans took place. These actions prove commitment of the sole shareholder to support CBM in its growth and development in the banking market in Russia and abroad.