OREANDA-NEWS  On 14 November was announced, that on November 05, 2008, the General Shareholders' Meeting of Soyuz Bank approved the amendments to the bank's charter with regard to increase of the number of declared shares, which can be issued in addition to already existing ones. This amendment was enacted in view of the upcoming additional share issue in the amount of RUR 5,7 bln scheduled for Q2'09.

The decision to increase the Bank's registered capital through additional placement for RUR 5,7 bln is planned for early next year.  It will follow the completion of the current issue of shares in the amount of RUR 4,1 bln which will bring the Bank's registered capital to RUR 8,2 bln.

According to Vladimir Izutin, Chairman of SOYUZ Bank Executive Board, "The decision of the shareholders is another step in increasing the registered capital.  We expect to complete this process in Q2'09. Following the next placement,  the Banks' registered capital will reach RUR 13,9 bln".