The Bank of Russia registered a SPO report of Promsvyazbank, the latter’s press service reported. The additional shares were floated among two investors: the European Bank for Reconstruction and Development (EBRD) and Commerzbank Auslandsbanken Holding AG, a minority shareholder of Promsvyazbank. After the SPO EBRD became a new shareholder of Promsvyazbank with an 11.75% interest in lender’s charter capital, while Commerzbank kept its stake at 15.32%. The equity stake held by the lender’s major shareholder, Promsvyazbank B. V., was cut from 84.68% to 72.93%.
The additional share issue raised the lending institution’s own funds (equity) by Rub 5.4 bln, lifting the capital adequacy ratio by more than 1% to around 12%, with the minimal threshold of 10%. Promsvyazbank’s charter capital grew 16.1% to Rub 10.44 bln.
Relevant agreements among EBRD, Promsvyazbank and its shareholders were signed in November 2009. The amount injected by EBRD into the lender’s capital equaled around Rub 4.6 bln, becoming the largest investment of the European financial company in the capital of a Russian bank. Beneficial owners of Promsvyazbank B. V. are Alexei and Dmitry Ananievs. Commerzbank Auslandsbanken Holding AG is a fully owned subsidiary of Commerzbank AG, a major German lender.
The European Bank for Reconstruction and Development is an international institution that finances projects in 30 countries ranging from Central Europe to Central Asia. The institution primarily invests in private concerns, provides project financing to banks, enterprises and concerns, injecting money both into startups and operating businesses. EBRD owners are 61 countries and two intergovernmental organizations.
According to the data from news agency Banki.ru and Interfax-CEA, as of July 1, 2009 net assets held by Promsvyazbank were equal to Rub 405.4 bln (11th place in Russia). The lending institution is a member of the national deposit insurance system.
