OREANDA-NEWS. May 5, 2010. General Shareholders Meeting of Public Stock Company 'Joint-Stock Commercial Industrial & Investment Bank' took place.

The meeting was held according to the statute of the Bank, 97.91% of shareholders of the Bank participated in the meeting and all made decisions were legitimate.

General Meeting approved Supervisory Board Report, Bank Board Report about Prominvestbank's results in 2009 and reports of audit commission and external auditor - Ernst & Young Audit Services LLC.

General Meeting approved the financial result of Bank activity in 2009, which made UAH -2 943.4 million, connected with significant reserves forming expenses in 2009 - over UAH 3 billion. Bank profit before reserves forming made UAH 216.2 million. Bank reserves covering losses made UAH 229.5 million, and undistributed profit of previous years made UAH 10.3 million.

During 2009 Prominvestbank renewed normal activities, with sufficient safety margin kept all NBU regulatory requirements, including adequacy of regulatory capital and liquidity. The volume of net assets of the Bank in 2009 increased by 10.7% and reached UAH 30.4 billion. Shareholders' equity increased in 2009 to UAH 2 154.7 million (66%) and as at January 1, 2010 amounted to UAH 5.417 billion. The authorized capital of the bank in 2009 increased by 26.5 times from UAH 200.2 million to UAH 5 298.7 million. The volume of bank liabilities during the year increased by UAH 600.4 million and as at January 1, 2010 increased to UAH 24 827.6 million.

The priority of the bank credit policy in 2009 remained the investment directed projects support. The largest share of loans concentrated in industry - 42.9%, trade and transport companies sector was actively credited, and its share in the loan portfolio made 23.4%. In general, the volume of loans granted to customers of the bank made UAH 23.4 billion as at January 1, 2010.

At the meeting, according to requirements with Art 20 of the Law of Ukraine 'On joint stock companies' it was decided to transfer the issue ordinary shares PSC Prominvestbank from documentary form into not documentary form. Appropriate amendments were made to the Bank Statute and statute on the Supervisory Board of the Bank, and for serving of shares it was elected PSC National Depository of Ukraine.

In connection with numerous references of shareholders it was approved the redemption of repurchased PSC Prominvestbank shares resold. This is the redemption of 2 million ordinary shares a face-value of UAH 10 each, representing 0.377% of the total issued shares of the bank. Redemption term: from October 1, 2010 till April 30, 2011.

Reference: Public stock company 'Joint-Stock Commercial Industrial & Investment bank' (PSC Prominvestbank) was formed in 1992 and is among the group of the largest Ukrainian banks. As of today the largest shareholder of the bank is State Corporation 'Bank for Development and Foreign Economic Affairs (Vnesheconombank)' (Russian Federation).

As of 01.04.2010 the capital of Prominvestbank made UAH 5.4 billion, assets - UAH 29.9 billion, credit portfolio - UAH 25.2 billion.