Volksbank pumps another 100m euros into local branch

Volksbank, one of the most aggressive banks on the retail market, will get a 100 million-euro injection of capital from its majority shareholder. The bank will therefore operate a 112 million-RON (33.2 million-euro) share capital increase, to 341.1 million RON (101 million euros). The move will be performed by issuing 1.12 billion shares, with a nominal value of 0.1 RON/share. Shareholders will pay an issuing premium of 0.2 RON per share. Therefore, total funds attracted by Volksbank Romania from its shareholders will climb to 336 million RON (around 100 million euros). The bank’s main shareholder, Austrian group Volksbank International, will therefore increase its stake in the local branch to 98.95%. Unternehmensbeteiligungs Gesellschaft mit beschr?nkter Haftung and Osterreichische Volksbanken-Aktiengesellschaft will retain small stakes in Volksbank Romania, with 0.001% of the capital; while Banca Popolare di Vicenza and EM.RO Popolare will each retain 0.52% of the capital.