CREDIT BANK OF MOSCOW increased its shareholders’ equity up to RUB 9.5bn
02.07.2009
<p>June 25, 2009 &ndash; CBR registered CBM's capital increase for the amount of RUB 3bn (USD 97mio), which brought the Bank&rsquo;s authorized capital up by more than 90 per cent up to RUB 6.3bn (USD 203mio). The Bank&rsquo;s shareholders&rsquo; equity now exceeds RUB 9.5bn (USD 306mio). <br /> <br /> Decision on the authorized capital increase was taken by the Bank&rsquo;s sole shareholder in February 2009 and was translated into action at the expense of the shareholder&rsquo;s funds by way of the eighth additional issue of ordinary nominal uncertified shares of the Bank. The number of shares issued is 3bn. with nominal value of 1 ruble. <br /> <br /> &ldquo;Authorized capital increase is a successive step in business development strategy of CREDIT BANK OF MOSCOW, within the bounds of which a balanced policy of raising own and borrowed funds is followed, - comments Alexander Nikolashin, Chairman of the Board of CBM, - authorized capital increase will enable us to improve the Bank&rsquo;s financial strength, will facilitate successful implementation of the shaped plans and will allow us to firmly establish CBM&rsquo;s position in the Russian banking market.&rdquo;</p>