Raiffeisen Bank Aval to increase charter fund 22%

Raiffeisen Bank Aval (BAVL) shareholders, at an AGM on October 14, will vote on whether to increase the bank’s charter fund by 22% to UAH 2.95 bln via an additional share issue. If approved, subscription would take place at par value, UAH 0.1 per share, and run from November 24, 2009 to January 24, 2010. Mykyta Mykhaylychenko: Raiffeisen Bank Aval remains well capitalized: after this share issue, its equity to total assets ratio will be around 12.2% while the median value for the largest banks is 11.7%.