A decision was adopted by European Trust Banks September 12 EGM to up the charter capital by issuing additional common non-documentary registered shares for a total of Rub 181 mln. After the SPO the lending institutions charter capital will come to Rub 1,088 mln, the lending institution said in a press release. The additional shares will be floated via closed subscription and the shares will be paid in cash.
European Trust Bank CEO Andrey Krysin believes that the higher charter capital will provide the bank with wider opportunities to lend its clients and raise new financial resources, and will also increase the lending institutions ratings related to net assets and equity capital.
According to the data from news agency Banki.ru and Interfax-CEA, as of July 1, 2008 net assets of European Trust Bank stood at Rub 9.50 bln (185th place in Russia). The lending institution is a member of the national deposit insurance system.