Wednesday, February 20, 2008

Pravex bank plans to increase statutory capital by UAH 150mn to UAH 521.5mn.

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Pravex bank plans to increase statutory capital by UAH 150mn to UAH 521.5mn. Pravex bank plans to increase statutory capital by UAH 150mn to UAH 521.5mn through additional share issue. The bank plans to issue 150mn shares with face value of UAH 1 each in documentary form. The offering will be closed. As we reported, Pravex bank reached agreement with Intesa Sanpaolo banking group on the purchase of Pravex bank 100% stake for around USD 750mn. Pravex bank net assets mounted to UAH 6,075.3mn (USD 1,203mn), the credit portfolio stood at UAH 3,921.1mn, and its equity reached 724.8mn as of Jan 1, 2008. Pravex bank posted net profit of UAH 24.401mn in 2007 after finishing 2006 with UAH 83.271mn. Kyiv's mayor Leonid Chernovetskyi holds 46.2% directly and 36.75% indirectly in the bank.

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Pravex bank plans to increase statutory capital by UAH 150mn to UAH 521.5mn.

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