Negotiations between the shareholders of the bank "Forum" (Kyiv) to increase the share capital are close to completion, said the director of the Department of Foreign Economic Relations of the National Bank of Ukraine (NBU) Sergei Kruglik.

"The negotiation process between the shareholders on the capital increase is in the final stage, as eviden1000ced by an agreed position on the need to urgently convene an extraordinary shareholders meeting in March 2010," - he said the agency "Interfax-Ukraine.

This department director NBU said that the results of diagnostic examination ordered the National Bank Bank "Forum" to carry out capital increase.

"The question of capital increase the bank is continuously monitoring the NBU ... Management of the bank (Forum) is making every effort to quickly address the issue of share capital increase", - stressed Kruglik.

reportedly in talks to increase the authorized capital of the bank has lasted more than six months. Majority shareholder of the "Forum" (Commerzbank Auslandsbanken Holding AG) insisted on the amount of capital increase of $ 1.1 billion USD, while the minority shareholder offered to raise capital only 300 million UAH. In December 2009 the shareholders financial institutions have decided that the next consideration of the share capital increase by 48,7% or 1,1 billion UAH, - up to 3,359,000,000 USD will be held on March 4.

According Kruglik scheduled Commerzbank Auslandsbanken Holding capital increase the bank"s "Forum" is twice recorded as a result of diagnostic examination and the amount is only a first step: the capitalization of the bank may continue throughout 2010.

"Thus, a shareholder of the bank Commerzbank Auslandsbanken Holding has confirmed its intentions regarding the capital increase and witnessed a strong interest and full support for long-term investment in the bank by setting aside the required amount to increase the share capital of the bank," - he stressed.

As reported, the last time the bank "Forum" has increased the authorized capital in the first quarter of 2009 - by 39,4% to 2.259 billion USD. This net loss of the bank last year amounted to UAH 664.557 million, compared with a net profit in 2008 at 10.271 million USD. Net loss in the fourth quarter amounted to 240.27 million USD in the third - 140.997 million USD in the second - 196.605 million USD in the first quarter - 86,685,000 UAH.

bank assets in 2009 decreased by 5,2% - to 19.453 billion USD. Allowances for loan losses increased in 2,2 times - up to UAH 1.678 billion and total shareholders" equity at year-end amounted to only 1.867 billion USD.

According to the agency a source in the National Bank, Commerzbank Auslandsbanken Holding admits another building capital in the summer of 2010: it may be increased by another 1.5 billion UAH.

Experts believe that the way out will be for sale by minority shareholders of their shares of major shareholders.

"Commerzbank, for its part, can finally agree to pay a minority shareholder Leonid Yurushev more attractive to him the price for his shares," - said an analyst with investment company "Concord Capital" Nikita Mikhailichenko.

"Equity Bank" Forum "may represent an attractive short-term investments for investors who are inclined to take risks and generate revenues of up to 25% for one or two months. The catalyst for short-term growth could increase the share capital at a shareholders meeting on March 4," - added said.

Bank "Forum" was founded in 1994. The largest of its shareholders on January 1, 2010 were Commerzbank Auslandsbanken Holding AG (63,0017%), Yurushev (10.5135%) and the associated JSC Venture indoor Non-Diversified Corporate Investment Fund "Unibudinvest" (15.7396%).

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According to the National Bank of Ukraine, on October 1, 2009 by total assets (18.645 billion USD), Bank Forum takes 12 th place among 182 banks operating in the country.

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