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15 August 2012

AS "PrivatBank" increased capital by 40% to LVL 56.47 million

AS “PrivatBank” (Latvia) has increased its share capital by 40% (16 million LVL) to LVL 56,470,000, successfully completing the issue of 16 million shares. As the bank’s press service informed, the considerable capital increase will allow AS “PrivatBank” to grow its share in the banking market and again proves that the bank is trustworthy for its customers and depositors.

“Due to the capital increase the bank was included in Latvia’s top 10 banking institutions”, Chairman of AS “PrivatBank” Board, Oleksandr Trubakov, noted. “The growth amount, which allowed to make such a considerable capital increase, proves the high-level of shareholders’ confidence in the bank”.

The decision to increase the bank’s share capital by LVL 16,000,000 by issuing 16 million ordinary registered voting shares was made at the extraordinary Shareholders’ Meeting, which was held on 11 June 2012. The new issue shares have been divided between the existing shareholders according to their requests. As of 1 July 2012, the bank’s share capital was LVL 40,470,000.

AS "PrivatBank" is a member of PrivatBank, an international banking group serving more than 22 million corporate and individual customers in 12 countries of the world – Russia, Georgia, Latvia, Ukraine, Italy, Portugal, China, United Kingdom, Cyprus, Germany, Spain, and Kazakhstan. PrivatBank was named the “Bank of the Year 2011” in Ukraine (The Banker Awards). PrivatBank is one of the 10 largest banks in the Central and Eastern Europe in the Top 1000 World Banks rating. PrivatBank has also been included in the top 10 CIS banks according to RIA Rating agency’s rating.


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