At the Shareholders’ Meeting, which was held today, March 23, 2011, in Riga, it was decided by a majority vote to increase the bank’s share capital by 66 million LVL and issue additional shares. It was also determined that after issuing shares, Unimain Holdings Limited’s holding would be less than 10% of the share capital. Thus AS “PrivatBank” plans to comply with the requirements of the Credit Institution Law of the Republic of Latvia. As the result of the issue of additional shares the share capital will reach 106.470 million LVL. AS “PrivatBank” will move from 9^th to 4^th place among Latvian banks in terms of share capital.

SIA “KPMG Baltics” performed an audit of the consolidated financial statements of AS “PrivatBank” for 2010 and expressed an unqualified opinion on these statements. In 2010, AS “PrivatBank” made sufficient provisions to cover the loan portfolio in the amount of 10.68 million LVL, and as of the end of 2010, total provisioning reached 25.74 million LVL. AS “PrivatBank” plans to finish 2011 with profit.

The Commission’s comments on the independent auditors’ opinion are available here: https://www.oricgs.lv/eri/PRT1R/6339/

About PAO KB PrivatBank: an international banking group PrivatBank has been providing services to more than 20 million corporate and retail customers in Ukraine Russia, Georgia, Latvia, Portugal, Italy and other countries already for 19 years. PrivatBank is the banking market leader in Ukraine and the largest bank with national capital, one of the largest bank settlement cards issuers and acquirers in the Eastern Europe (the amount of payment cards issued is 18.5 million). As of November 1, 2010, net assets amount of PrivatBank equals to 6.68 billion LVL. The equity capital is 739.2 billion LVL, credit portfolio – 5.91 billion LVL. Net profit of PrivatBank according to the 10 months results of the year 2010 has reached 69.18 billion LVL. PrivatBank is the commercial bank with the largest number of customers in Ukraine: more than 23% of Ukraine’s population uses its services. Today the bank provides services to 334 thousand corporate customers, 314 thousand private entrepreneurs and more than 12.5 million individuals. “PrivatBank” services are available at more than 3400 branches of the vast customer service network. "PrivatBank" has won international recognition by The Banker Awards as "Bank of The Year 2010" in Ukraine. PAO KB "PrivatBank", which also includes AS "PrivatBank", ranks 416th in "Top 1000 World Banks 2010" published by The Banker magazine, with Tier 1 capital of 673 million LVL.