VORONEZHPROMBANK, 98.4% of which are nominally held by CONVERSEBANK, will soon raise the authorized capital to R240 million through a R100m new share issue and a R40m subordinated credit. The new issue decision is expected to be made at an extraordinary shareholders meeting in November. Under the new plans, four more branches in Pavlovsk, Ostrogozhsk, Ramoni and Boguchar will be added to the existing five branches in Borisoglebsk, Talovaya, Liskakh, Novaya Usman and Novovoronezh. In the future, the bank will lay the main emphasis on consumer credits in the Voronezh Region and expand bank card business.
Source: CONVERSEBANK PRESS CENTER, August 30, 2006
