Bancpost shareholders called to come up with 55m euros for capital increase

Shareholders of Bancpost, one of the top ten banks on the market are called to contribute 214 million RON (nearly 55 million euros) in cash for a capital increase. The capital is thus expected to reach over 662 million RON (nearly 170 million euros). The decision for a capital increase will be submitted for shareholder approval in an Extraordinary General Meeting of Shareholders called on the 26th of January. Amid an increase in non-performing loans and implicitly in risk provisions, banks are starting to feel pressure put on capital, with the NBR (National Bank of Romania) calling for capital increases if it notices a fast decline in the solvency rate. Bancpost’s majority shareholder is Greek group EFG Eurobank, with 77.56% of the capital, while the other shareholders include Financial Investment Companies SIF Banat-Crisana, SIF Transilvania and SIF Oltenia, with 5.13-5.15% of the shares. Additionally, 1.83% is held by individuals, including bank employees.