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EquityStory.RS, LLC-News: Bank JUGRA / Key word(s): Miscellaneous Alexey Khotin and other Jugra Bank's shareholders increase capitalization 2017-04-27 / 20:29 The issuer is solely responsible for the content of this announcement. *Alexey Khotin and other Jugra Bank's shareholders increase capitalisation* 27 April, Moscow - The Shareholders Meeting of Jugra Bank approved a three-year development strategy and distributed retained earnings of the previous years in the amount of RUB 4.75 billion to increase the capitalisation. "Under the new development strategy for 2017-2019, we intend to increase assets to RUB 423 billion (30-35% growth in three years) and improve their profitability. That is, the target ROA should be at least 0.7% by the end of 2019," Alexey Nefedov, the President of Jugra Bank said. In 2016, the shareholders also donated RUB 28.5 billion to the Bank to increase its equity capital and create extra provisions. This allowed Jugra to increase the margin of safety and accumulate supplementary reserves. According to the approved strategy, Jugra shall keep focus on the client base diversification. In particular, the share of corporate clients in the total amount of raised funds shall double to make 23.8%. "We developed a comprehensive consulting services portfolio for legal entities offered in the Multifunctional centres (MFC) for entrepreneurs. Last year we opened a pilot MFC on the basis of our Moscow office, and we plan to open another six centres in the regions," Mr. Nefedov noted. According to him, operations with individuals will be focused on diversifying credit facilities, primarily, overdraft and mortgage ones. Thus, by 2019, the share of loans to individuals in the total volume of allocated funds should increase to 4.27% from 0.15% as of 1 January, 2017. The Bank also plans to improve sales performance and client servicing through remote channels: RBS, ATMs and e-wallets. _PJSC Bank "Jugra" is a full-service credit institution of federal scale and one of Russia's oldest banks, founded in 1990. The Bank ranks 28th in terms of assets. It offers a full range of banking services for business and savings. In terms of capital, the Bank is among the TOP 30 Russian banks. Alexey Khotin, who controls 52.5% of shares, is the majority shareholder of Jugra Bank._ *Alexey Khotin* is a well-known Russian businessman and investor, operating in the areas of industry, realty and hydrocarbon production. *Biography* Alexey Khotin was born on 21 June 1974 in Minsk. In 1991 he graduated from Minsk Suvorov Military School. In 1997 he graduated from Plekhanov Russian University of Economics. Master of Sports in swimming. *Business* Since 1996, Khotin has arranged several industrial enterprises: production of military equipment, chemical feedstock, FMCG [1] and food. From 2001 to 2003 he served as Vice President of Moscow Association of Organizations of Chemical Complex . Alexey Khotin is one of the top Russian realty investors. Forbes estimated his income at USD 325 million. In November, 2011, he acquired a stake in Exillon Energy, an independent oil producer. At the moment, he is the major shareholder of British Exillon Energy, listed at London Stock Exchange. The company performs upstream operations in the Timan-Pechora Basin and Western Siberia with 27 million tons of proved reserves. Net profit of Exillon Energy in H1, 2016 increased by 69% YOY and amounted to USD 2.3 million. Through the Swiss-based company Radamant Financial AG, Mr Khotin controls 52.5 % shares of Jugra Bank, one of the top 30 Russian banks and the oldest bank in the country, founded in 1990. At the present day Jugra is a full-service credit institution of a federal scale, offering a full range of banking services to the clients. Since the appearance of new shareholders in 2013, the Bank's assets have grown 38 times. *Charity* Alexey Khotin is sponsoring various sports events and teams, e.g.: FIAS International Sambo Federation Russian Federation of Practical Shooting Dynamo Futsal Team Night Hockey League 2017-04-27 Dissemination of a Corporate News, transmitted by EquityStory.RS, LLC - a company of EQS Group AG. The issuer is solely responsible for the content of this announcement. The EquityStory.RS, LLC Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Archive at www.dgap.de 568555 2017-04-27 1: http://public-cockpit.eqs.com/cgi-bin/fncls.ssp?fn=redirect&url=a371f20ac4dc9cdc7e5978ca434b93b9&application_id=568555&site_id=vwd&application_name=news
(END) Dow Jones Newswires
April 27, 2017 14:30 ET (18:30 GMT)
