Bank Forum charter fund increase still a no-go

Bank Forum (FORM) announced on Friday that shareholder meetings on December 17-18 once again did not approve a 45% charter fund increase. Shareholders pushed the decision back until an EGM in the “near future”, Interfax reported. This is the third time Forum has scheduled an EGM to vote on the charter fund increase and indicates disagreements between main shareholders Commerzbank (63%) and Leonid Yurushev (26%) have yet to be resolved. The increase would put Forum in line with the National Bank of Ukraine’s requirement following stress-tests to increase its regulatory capital by at least 23%.