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Scandals fraud and losses in the financial markets

Scandals fraud and losses in the financial markets

HSBC is the latest bank to be hit by attempted fraud, which Euromoney was first to report.

Monday, May 5, 2008

Reiffeisen Bank Aval to increase statutory capital by USD 27.7mn.





Reiffeisen Bank Aval to increase statutory capital by USD 27.7mn. Reffeisen Bank Aval decided to increase statutory capital by UAH 140mn (USD 27.7mn) to UAH 2,419.9mn through additional share issue. The bank will issue 1,400mn shares with nominal face value of UAH 0.1 worth each. The subscription is scheduled from Jul 1 until Aug 31, 2008. As of Apr 1, 2008, net assets of Reiffeisen bank Aval amounted to UAH 47.1bn, credit portfolio stood at UAH 39.5bn, and capital stood at UAH 5.46bn. The bank posted net profit of UAH 335.58mn in Jan-Mar, after ending ful-2007 with UAH 587.42mn.    .


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