Banca Romaneasca to increase capital by 3m euros

The shareholders of Banca Romaneasca have decided during the latest General Meeting to favour the bank’s capitalisation over dividends this year. Thus, they approved a 100bn ROL (3m euro) capital increase, up to 445 billion ROL. The money will mainly come from the dividends for last year. The bank’s main shareholder is the Romanian American Enterprise Fund (RAEF), which owns more than 75% of the shares. “Beside the capital increase, shareholders have also approved the following targets for 2003: gross profit of 285bn ROL, 45% increase in the number of clients and the expansion of the territorial network by another 4 subsidiaries,” Banca Romaneasca president Petru Rares told Ziarul Financiar. ZF