OREANDA-NEWS. March 31, 2008. The Central Bank of Russia registered the capital increase of Absolut Bank by EUR 267 mln. The capital was increased, as it was planned earlier, by means of 50 mln. issue of ordinary shares, listed at the price of EUR 5, 34 each. The shares were distributed among the current shareholders by means of closed subscription in correspondence with the existing shareholding structure. In this way, the KBC Group will retain 95% of the bank stock, IFC will hold 5% of stock as before. As a result of additional issue of shares the authorized capital of the bank became equal to RUB 1,84 bln., while its equity capital reached RUB 23,3 bln.

Chairman of the Management Board of Absolut Bank Nikolay Sidorov:
"Increase of the capital base will allow us to direct significant sums of money for the realization of the regional network development program and to expand the resource base for the long-term crediting of private and corporate customers."