27 Dec 2012 16:01

Investtradebank boosts capital 16%

MOSCOW. Dec 27 (Interfax) - The Central Bank of Russia has registered the results of a private share issue by Investtradebank (ITB) worth almost 1 billion rubles, which boosted the bank's capital 15.7% to 7.36 billion rubles, the CBR said.

ITB issued 1,997,320 new shares, par value 500 rubles each. The board decided in October to boost capital by converting 1 billion rubles in subordinated loans raised from shareholders ITB Holding (13.73% of shares), JCF FPK I AIV ITB S.a.r.l. (19.99%) and Starr Russia Investments III B.V. (19.99%).

The bank was Russia's 49th largest by assets, according to the Interfax-100 ranking at the end of Q3 2012.