Carpatica adds 3m euros to capital

Banca Comerciala Carpatica intends to increase its share capital by 117.3bn ROL (more than 3 million euros) to 1,302.9bn ROL (around 36 million euros) by capitalising reserves made from its net profit for 2004. The operation is to be endorsed by the EGM of shareholders on April 23, the bank announced on Monday through the Bucharest Stock Exchange system. At the same time shareholders will discuss the endorsement of new bond issues within the law during 2005 and their sale on the domestic market through capital market specific methods. Early in 2004 Carpatica shareholders approved the launch of a bond issue worth 543bn ROL, but the operation scheduled for last autumn did not take place. The bank posted 134.33bn ROL (3.36 million euro) net profits for 2004, the same as in 2003, though slightly down in real terms. ZF