Romexterra plans 14m-euro capital increase

The shareholders of Banca de Credit si Dezvoltare (Credit and Development Bank) Romexterra intend to increase the bank’s capital by 600bn ROL (more than 14 million euros) this year. The shareholders want to double capital to boost lending power. The increase will be done in two stages, one of which by capitalising the dividends for the last financial year – 120bn ROL, and the second targeting an increase by capital contribution from the existing shareholders, 480bn ROL. “We have two options to propose to our shareholders during the next EGM. The first would be not to disburse dividends for last year and capitalise the profit and the second would be to disburse a net dividend of 6,250bn ROL and let everybody do what they please with the money, either subscribe for the increase or keep it,” Vasile Ifrim, Romexterra’s president told Ziarul Financiar. The bank’s capital currently amounts to 600bn ROL and is distributed over 25,000 ROL par value shares. ZF