Forum Bank plans to issue D-series local bonds worth 500 million hryvnias. According to the State Securities and Stock Market Commission’s web-site, the bank’s Supervisory Council approved the decision on May 6.

The bank will issue 500,000 registered unsecured bonds with a face value of 1,000 hryvnias each. The bonds will be sold openly.

Bond proceeds will be used to boost the bank’s loan and investment portfolio.

UNIAN reference: AKB Forum was founded in 1994. As of January 1, 2008, the bank’s net assets were worth 14.42 billion hryvnias, its credit portfolio amounted to 9.63 billion hryvnias, and its owned capital stood at 1.35 billion hryvnias.

In 2007, the bank posted a net profit of 52.58 million hryvnias.

In early March 2008, German Commerzbank bought a 60 percent +1 stake in the bank for €435 million. Commerzbank also has an option to buy an additional stake up to 25 percent in size in Forum Bank during next 36 months.

The mass media claimed that businessman Leonid Yurushev was the bank’s true owner, before the latter’s takeover by Commerzbank.