OREANDA-NEWS. August 08, 2012. AS “PrivatBank” (Latvia) has increased its share capital by 40% (16 million LVL) to LVL 56,470,000, successfully completing the issue of 16 million shares. As the bank’s press service informed, the considerable capital increase will allow AS “PrivatBank” to grow its share in the banking market and again proves that the bank is trustworthy for its customers and depositors, reported the press-centre of PrivatBank.

“Due to the capital increase the bank was included in Latvia’s top 10 banking institutions”, Chairman of AS “PrivatBank” Board, Oleksandr Trubakov, noted. “The growth amount, which allowed to make such a considerable capital increase, proves the high-level of shareholders’ confidence in the bank”.

The decision to increase the bank’s share capital by LVL 16,000,000 by issuing 16 million ordinary registered voting shares was made at the extraordinary Shareholders’ Meeting, which was held on 11 June 2012. The new issue shares have been divided between the existing shareholders according to their requests. As of 1 July 2012, the bank’s share capital was LVL 40,470,000.