Home
/
News
/

Raiffeisen Bank Aval Announces UAH 1.5 bln Increase to Statutory Fund

Raiffeisen Bank Aval Announces UAH 1.5 bln Increase to Statutory Fund

23 October 2008

The bank (BAVL:BUY) plans to increase its statutory fund by UAH 1.5 bln to UAH 3.6 bln through an additional emission of shares, according to a statement released Friday. The details of the emission will be discussed at BAVL’s AGM on Dec. 8. In August, BAVL’s shareholders approved an additional share emission to increase the statutory fund by UAH 0.6 bln to UAH 2.1 bln. Alexander Viktorov: This announcement reflects the management’s commitment to the bank as the new owners gear the bank up for high growth to reach their ambitious, but achievable, goal of making Aval the biggest retail lender in Ukraine. Following this new emission and the emission in August, the bank will be much stronger and better positioned. We are keeping our target price and BUY recommendation unchanged.

Latest News

News

23

02/2022

Separatists may claim entire territories of two Ukrainian regions

Russia has recognized “all fundamental documents” of the self-proclaimed Donetsk and Luhansk People’s Republics (DNR...

News

23

02/2022

U.K. to provide USD 500 mln loan guarantee for Ukraine as IMF mission starts

The British government is going to provide up to USD 500 mln in loan guarantees...

News

23

02/2022

MinFin bond auction receipts jump to UAH 3.5 bln

Ukraine’s Finance Ministry raised UAH 3.3 bln and EUR 7.2 mln (the total equivalent of...