MOSCOW, December 19, 2013 /PRNewswire/ --
National Bank Trust ('TRUST Bank'), whose products are advertised by Bruce Willis has decided to raise the Bank's nominal capital by issuing and placing additional ordinary registered uncertified shares of the Bank. If the additional share issue is fully placed, the nominal capital of the Bank will increase by 25%.
Bank TRUST President Nikolay Fetisov commented, "The raising of Tier 1 capital, i.e. the increase of capitalisation, including through the issuance of other securities such as subordinated debt, is equivalent to an increase in the absolute reliability of the Bank. Additionally, considering our easily scalable business development model, we will be able to increase the number of operational assets, which will have a positive impact on the Bank's profitability."
Also, the timing of the increase in the Bank's capitalisation was determined by the planned transition to the new method for calculating N1 in compliance with the Basel III standards, and this will allow the Bank to maintain this figure (N1) at 14%.
The Bank's own funds (capital) as of 1 December 2013 amount to RUB 21,098,000,000. The total amount of funds planned to be attracted through the share issuance is RUB 6,000,000,000 (price of one share: RUB 61.65, number of shares: 97,320,000). Method of placement: open subscription.
SOURCE National Bank TRUST