1.3m-euro losses for Libra Bank

Libra Bank saw its assets rise almost three times last year, to 371.7 million RON (101.1 million euros), from 130.4 million RON in 2004, but the bank also incurred higher losses, from three million RON to 4.57 million RON (1.3 million euros). The bank plans to increase its share capital by nine million RON, to 74 million RON, by contributions in cash from its shareholders. Investors will be able to subscribe 90 million new shares at a value of 0.1 RON in one month after the shareholders’ decision in this regard has been published in the Official Gazette. Libra Bank is a member of New Century Holdings (NCH) US investment fund, with Sebastian Park as another shareholder. The bank has recently launched debit cards and is getting ready to launch credit cards over the following months.