Urals | Finance, business

SKB-Bank beefs up capital to $304m

17 Oct '08
Ekaterinburg-based SKB-BANK is to increase its capital to about $304.7m, sources in the bank reported earlier today.

Currently the bank is completing the issuance of $6.6m worth of follow-on shares. Sinara Group and EBRD, the bank's shareholders, will be the buyers, the sources said.

The bank will also take out a $30.4m subordinated loan from Vnesheconombank to augment capital, said the company.
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