OREANDA-NEWS. On September 26, Alfa Bank (Ukraine) registered a 58% share capital increase, bringing the total to UAH 1.37 bln. The decision to increase the bank's share capital by UAH 505 mln was made at the AGM on July 16 and was completed through an extra issue of regular registered stocks. Following this incremental share capital growth, Alfa Bank's regulatory capital currently stands UAH 1.98 bln.

This is the second authorized share capital increase for Alfa Bank (Ukraine) this year, with another UAH 505 mln raised in May.

The decision by the bank's shareholders to increase the bank's equity shows that they are quite serious about furthering the development of Alfa Bank on the Ukrainian market. The purpose of the move is to broaden our banking business and extend the bank's regional branch network, while also increasing its credit operations to finance projects and programs aimed at providing loans to corporate and private clients," said Alfa Bank (Ukraine) CEO Alexandr Lukanov.

In August, Alfa Bank (Ukraine) also raised a subordinated loan worth $30 mln, which is equivalent to UAH 151.5 mln and must be repaid in 2017. This transaction was registered with the National Bank of Ukraine (NBU) in September.

Alfa Bank (Ukraine) is a commercial banking institution offering a wide range of banking services for both corporate and retail clientele. As of September 1, 2007, the bank's assets totaled UAH 11.7 billion, ranking Alfa Bank among Ukraine's Top Ten largest banks, according to the Association of Ukrainian Banks (as of August 1, 2007), and putting it up from the 14th position at the end of 2006.

Alfa Bank (Ukraine) is one of the 20 fastest growing banks in Eastern Europe that possess total assets over USD100 mln each. The bank's regional network of branches now comprises more than 100 locations nationwide.