NOMOS-BANK's supervisory board recently made the decision to increase the bank's share capital by issuing additional ordinary registered shares, including 21.8 million shares or 19.5 percent.

The supervisory board will set a price at a later time. The shares will be offered on the MICEX through open subscription.

"The financing obtained thanks to the offering will be used for the bank's development," Dmitry Romaev, the first deputy president of NOMOS-BANK, said of the decision.

Two extraordinary shareholder meetings will be held on September 9 and October 28, as well, as decided upon by the board.

NOMOS-BANK is the sixth largest banking group in Russia and has total assets of $28.89 billion and equity of $2.95 billion under IFRS accounts for the three months ending March 31.