Bank Forum Attracts USD 50 mln Subordinated Loan

Bank Forum (FORM: BUY) has received a six-year USD 50 mln subordinated loan from major shareholder German Commerzbank. The financing will be directed at increasing the bank’s operations. In November, the National Bank of Ukraine gave German Commerzbank permission to buy a 60%+1 stake in Forum. Yesterday Forum announced it would consider a 45% charter fund increase at its next AGM on February 1, 2008. Alexander Viktorov: While many other Ukrainian banks have postponed planned Eurobond issues and syndicated loans due to the rise in global lending rates, Bank Forum is capitalizing on its recent sale to Commerzbank by attracting financing from its new owner.