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.