New capital increase at Libra Bank

Libra Bank has completed another capital increase, worth 106bn ROL (43.1m), which pushed the bank’s capital at 506 billion ROL. Libra Bank’s capital was raised twice last year, after the main stake in the bank was bought by a group of companies controlled by U.S. investment fund Broadhurst, managed by New Century Holdings. Following the latest capital increase, NCH has come to hold 87.5% in Libra. The bank was taken over from Cypriot investors by several companies owned by Broadhurst. Winmarkt and Winmarkt Beta are among the companies that contributed to the most recent capital increase. The bank’s management expects zero profit this year, following last year’s losses that occurred as assets were liquidated to finalise the takeover transaction. ZF