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Romanian lender Bancpost proposes shareholders to hike share capital by lei 216.36m

Bancpost, controlled by the Greek financial group EFG Eurobank, asked its shareholders to agree with the increase of share capital by 216.36 million lei to 878.59 million lei, by converting some credits from the mother-bank and through cash participations, the lender announced.

This proposal will be tackled at the meeting on May 18.

The increase will be completed by issuing 540.9 million new shares at a face value of 0.4 lei per share, plus an emission premium of 0.15 lei per share. These will be offered to the existent shareholders proportional to the number of shares already owned.

If it gets the approval, Bancpost will witness the second share capital increase this year, after shareholders agreed at the end of January to add 214 million lei at the capital by issuing 535 million shares at a 0.74 lei price per unit. They also okayed an additional injection of 181.9 million lei from subscription fees.

Bancpost is majority owned by EFG Eurobank, with an 84.73 percent stake. Four investment funds (SIF) own 14 percent of the bank's shares.

EFG Eurobank reported a net profit of 27.3 million euros in Romania last year, down 5.86 percent over the previous year. The total value of assets rose from 4.8 billion lei to 6.02 billion euros.

Credits hiked 27.5 percent to 3.95 billion euros in 2008, from 3.1 billion euros in 2007, while deposits boosted 72.6 percent year-on-year, from 1.4 billion euros to 2.42 billion euros.

EFG Eurobank counted 293 units at the end of 2008, versus 237 in the year before.

 

Sursa: http://www.newsin.ro

Tags: share million euros billion shareholders percent capital bancpost sif

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