Raiffeisen Bank Aval registers UAH 850 mln capital increase

Raiffeisen Bank Aval (BAVL) announced yesterday in a press release that the National Bank of Ukraine registered an increase in the bank’s capital by UAH 850 mln. According to the release, the bank’s capital was increased due to the attraction of a subordinated loan from the European Bank for Reconstruction and Development in December 2008 for USD 75 mln over 10-years. In addition, as a result of the prolongation of two subordinated loan agreements with the International Finance Corporation, the bank’s capital calculated taking into account these loans totaled USD 70 mln. The IFC loan will terminate in Dec. 2015.