VTB Bank has acquired the whole of an additional share issue by its Georgian subsidiary, VTB Bank (Georgia), worth US$6.4 million. The deal increased the issuer’s share capital to US$97.5 million, and the parent bank’s shareholding to 96.8% from 96.59%.
The National Bank of Georgia approved the final prospectus for VTB Bank (Georgia)’s new share issue on 20 March, authorising a public offering of 11,000,000 ordinary shares with a par value of 1 Georgian lari per share.
«The capital increase will further VTB Bank (Georgia)’s growth and promote its business development. As of 31 March 2014, the bank had assets of US$522 million. It has grown significantly across all business areas, and is actively lending to large-, medium- and small-sized businesses, offering Georgian companies a wide range of trade finance and documentary operations and introducing innovative technology-based consumer lending products».
Senior vice president in charge of VTB Group's financial subsidiaries division