NewsRSS

Credit Bank of Moscow receives c. $30 mln capital increase from its shareholders.

05.06.2006

June 5, 2006 - Central Bank of Russia cleared a US$29.7 mln worth capital injection from our shareholders. This injection means a 50% increase to the bank's common stock now reaching c. US$94 m. with equity nearing US$142 mln Always known for comfortable capitalisation level, Credit Bank of Moscow has now secured a capital adequacy ratio of over 24% bound to leverage the healthy growth of its assets. Recently seen pace of CBM's development would suggest proper capital backing to continue, and it was proactively provided, clearly evidencing the confidence of our shareholders as to the bank's performance and their ability to render appropriate support.