OREANDA-NEWS. October 25, 2010. At the General shareholders meeting of Bank Forum Commerzbank Group, a decision to increase the bank’s statutory capital by UAH 1.5 bn (or by about 34%) was made, reported the press-centre of Bank Forum.

The increase will be made by means of private placement of an additional shares issue. The new amount of capital will be registered in Q1 2011. The bank’s capital will grow from UAH 4.435 bln to about UAH 5.935 bln.

This is already the second increase of statutory capital of Bank Forum Commerzbank Group since the beginning of 2010. The decision for the first increase of the bank’s capital by almost 2 times was made at the General shareholders meeting on March 4, 2010. The new capital in the amount of UAH 4.435 bln was registered on September 14, 2010.

Reference
PJSC "BANK FORUM" was founded in 1994 and is one of the largest Ukrainian banks according to the National Bank of Ukraine. Commerzbank AG is a major shareholder of “BANK FORUM” holding 94,52 % of its shares. As of September 17, 2010, the Bank’s registered statutory capital totals UAH 4.435 bn, net assets – UAH 15.761 bn, total assets – UAH 18.181 bn.

Commerzbank AG is one of Germany’s leading banks for private and corporate customers. Following the merger of Dresdner Bank and Commerzbank in May 2009, its customers will in future have access to around 1,200 branches, the largest branch network of any German private bank. The new Commerzbank has approximately 15 million private and corporate customers worldwide, who can now enjoy an even broader and more attractive range of Commerzbank products and advisory services. Today some 30% of German foreign trade is channeled through the new Commerzbank, the leading export financier for the German industry. The bank is directly represented in 46 countries as well as through a network of more than 6,000 banking relationships worldwide.

Commerzbank is well positioned in Central and Eastern Europe, serving around 3.9 million customers in the region. In Poland the bank holds a 70% stake in BRE Bank, Poland’s third largest financial institution. In Ukraine it is the majority shareholder of Bank Forum – a universal bank with a nationwide network. Currently Commerzbank operates in more than ten countries in the region.