KYIV. Nov 17 (Interfax-Ukraine) – BM Bank (Kyiv) has increased charter capital by 2.01 times, to UAH 3.28 billion through an additional issue of shares, according to a press release from the bank.
According to the report, the bank’s shareholders made the decision on November 3, 2016, while on November 11 participants in share placement paid UAH 1.65 billion for the bank’s shares.
“Purchase of shares for capital increase was carried out at the expense of the bank shareholders’ own funds. The decision to hold capital increase was made as part of the overall strategy of the development of BM Bank and the recapitalization program,” the document says.
As reported, BM Bank shareholders at a general meeting on September 27-29 decided to increase charter capital to UAH 3.381 billion by issuing additional shares, but failed to realize recapitalization plans.
BM Bank was founded in 2005. VTB got control over the bank after the purchase of Russia’s Bank of Moscow.
BM Bank ranked 38th among 108 operating banks in the country in terms of total assets as of July 1, 2016 (UAH 3.031 billion), according to the National Bank of Ukraine.
