MOSCOW, March 27, 2014 /PRNewswire/ --
On 25 March 2014, the Board of Directors of TRUST Bank discussed and approved the results of an additional issue of securities. The total funds came to 3 billion 144 million rubles.
51,303,000 of uncertified registered ordinary shares were sold at 61.28 rubles per share during the placement on the MICEX Stock Exchange. The shares were purchased by corporate entities.
According to preliminary estimates, and taking into account the additional issue of shares, as of 1 April 2014, the bank's own funds (its capital) will amount to 23.91 billion rubles. Predictive value of the capital adequacy of the bank as of 1 April this year is as follows: H 1.0 - 11%, H 1.1. - 6%, H 1.2 - 6.5%.
The placement of shares which began on 19 March 2014 was done in accordance with Russian legislation and the listing requirements of the MICEX Stock Exchange PLC.
The increase in the bank's capitalization, using the acquired funds, will facilitate a rise in the number of operating assets, which will have a positive impact on the bank's business development and improve its profitability.
TRUST Bank is one of the 30 largest banks in the country (according to the Central Bank of the Russian Federation). It provides a full range of services to private clients, comprehensive services for corporate clients and small- and medium-sized businesses. The bank's main priority is the on-going development of quality consumer lending (the total retail portfolio of the bank as of 1 March 2014 is 108.2 billion rubles).
TRUST has an extensive regional network of offices. In 2014, the bank plans to open 100 new "mobile format" offices in towns with a population of 50 to 100 thousand people.
In 2013, the leading Russian rating agency, "Expert RA", confirmed TRUST Bank's high credit ratings (level A) and risk management (A.rm). The National Rating Agency "Rus-Rating" confirmed the Bank's "A-" credit rating with a stable outlook.
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SOURCE National Bank TRUST