OREANDA-NEWS. On April 22, 2008 the National Bank of the Republic of Belarus registered a \\$75 million increase in Belgazprombank’s equity capital. The investment was made under the Bank General Meeting’s resolution adopted 14 April 2008, reported the press-centre of  Belgazprombank.

The additional share issue, fully financed by Russia’s Gazprom and Gazprombank, is being effected in two stages – the first \\$75 million have reached Belgazprombank this April while another \\$75 will be transferred in summer 2009.

As of April 22, 2008 Belgazprombank’s authorized fund topped \\$100 million. At present, the bank’s registered authorized fund totals BYR 218,593,844,512 (equal to \\$102,003,660.53 according to the National Bank exchange rate).

After the \\$75 million rise in the equity, the stakes in the bank are as follows: Gazprom and Gazprombank hold 48% each, and the Belarusian founders hold the remaining 4% (Beltransgaz owns 3% and the State Property Committee – 1%).

As a result of this share offering, Belgazprombank is expected to become Belarus’ third largest bank by authorized fund and sixth - by equity.

The decision to increase the bank’s equity followed expansion in operations related to small, mid, and large-sized business funding, growth of the personal lending services including mortgage loans and expansion of the bank’s nationwide footprint.