Foreign owners pump 43m euros into their Romanian divisions

Shareholders of companies in the banking, insurance, leasing and private pensions sector brought 43 million euros to companies’ capitals in July, according to data from the Trade Registry. Among the companies whose share capital was increased are BT Asigurari, Libra Bank, Banca Romaneasca, OTP Garancia Asigurari, BT Aegon Fond de Pensii, Verida Credit IFN and Arval Service Lease. The largest capital increase was performed by BT Asigurari, one of the top ten companies on the insurance market. France-based Groupama, which bought the insurer for 100 million euros at the end of last year, made a 21.8 million-euro capital increase. The company reported record losses amounting to 32 million euros last year, the biggest on the insurance market. The share capital of mandatory private pensions manager BT Aegon was increased by 2 million euros in the same month. Around the same amount was added to the share capital of Verida Credit, a recently set up mortgage credit company, whose shareholders include ABN Amro, the Old Lane fund of American group Citi and the Rubikon Partners fund.