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March 04, 2010

Commerzbank to increase its stake in Bank Forum to around 89.3 per cent

Commerzbank today announced the acquisition of an additional 26.25 per cent stake in Bank Forum and in this way increased its stake to around 89.3 per cent. The shares were indirectly held by Leonid Yurushev who is to leave the shareholders’ group of Bank Forum with this sale. It was agreed upon maintaining confidentiality on the purchase price as well as on any further details of the transaction.

In March 2008 Commerzbank has acquired a stake of 60 per cent plus 1 share, holding roughly 63 per cent before today's transaction. As at December 31, 2009 the regulatory capital of Bank Forum totals approximately 2.6 bn UAH. This corresponds to a capital adequacy ratio of roughly 16.7 per cent.

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