Kiev, 7 August – The issue of increase in the authorized capital was considered at a regular General Shareholders Meeting of BANK FORUM. The Shareholders voted for the authorized capital increase by UAH 800 million, to UAH 6,735 million, through additional private placement of shares with the current nominal value.

‘After completion of the transaction we performed a thorough financial audit at Bank Forum. We are still negotiating with the German counterpart the problems and controversial issues detected by us. At the moment we have decided to recapitalize the bank, which will improve its financial standing, will give positive signal to the market and will raise the customer confidence in the stability of the bank,’ commented Alexey Pertin, CEO of Smart-Holding.

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Smart-Holding is one of the largest investment groups in Ukraine with focus on key industries of the economy, including metals and mining, oil and gas, banking, shipbuilding, real estate and agriculture. Smart-Holding’s strategy is aimed at efficient management of a diversified portfolio of the Group’s assets by increasing its value in the long run and by searching for new business development directions. Smart-Holding participates in the projects as a strategic and portfolio investor.

BANK FORUM PJSC has been operating on the Ukrainian market since 1994 and belongs to the second bank group according to the classification of the National Bank of Ukraine. The principal shareholder of BANK FORUM is YERNAMIO CONSULTING LTD, holding 98.68% of the authorized capital of the Bank. The Bank's assets as of 01 July 2013 amounted to UAH 10.321 billion, its credit portfolio - UAH 7.695 billion.

For additional information, please visit: www.smart-holding.com