OREANDA-NEWS. November 17, 2008. The Bank of Moscow plans to issue preferred shares. The Bank of Moscow has received approval from the key shareholder, Moscow Government, to participate in a pre-planned additional issue of preferred shares. According to the preliminary estimates, the issue of the shares by the Bank may produce around 10 billion Roubles. As of today, the Bank’s share capital has been registered in the amount of 13.7 billion Roubles, and as of November 1, 2008 the Bank’s equity was 75 billion Roubles.

The issue of preferred shares would allow the Bank to strengthen its capital base and obtain additional opportunities to accomplish the tasks set forth by the long-term development strategy.

The Bank of Moscow will provide information about the preferred share issue progress with due regard for the requirements of Russian Federation Law.