In November 2013, Bank Forum increased its equity by UAH 400 million. This amount was received as the first tranche under the capital replenishment of BANK FORUM initiated by the decision made at the ordinary general meeting of the bank’s shareholders in August 2013. All in all, increase in the bank’s authorized capital by UAH 800 million (up to UAH 6.735 billion) through additional private placement of shares of the existing nominal value is expected by the end of the year.

 

‘The bank’s capital replenishment underlines our serious intentions with regard to further development of Bank Forum,’ commented Andrey Yatsura, the Board Chairman of Bank Forum. ‘We are grateful to our shareholders for their support and understanding of the business needs. Increase in the capital and debt provisions is a strategically important step. Once the bank completes it, it will be able to reach the break-even point and gain profit.’

 

Reference:

 

BANK FORUM (Public Joint Stock Company) has been working on the Ukrainian market since 1994 and is in the second group of banks according to the classification of the National Bank of Ukraine. The principal shareholder of BANK FORUM PJSC is YERNAMIO CONSULTING LTD, holding 98.68% of the authorized capital of the bank. The bank’s assets as of 1 October 2013 amounted to UAH 10.759 billion. Its credit portfolio is UAH 8.068 billion.