Patria Bank takes loan of EUR 5 mln from main shareholder EEAF Financial Services BV to consolidate growth

Patria Bank takes a loan of EUR 5 million from the main shareholder EEAF Financial Services BV, with a maturity of six years and a reimbursement in one installment, to consolidate its growth.

The loan contract was signed on March 29, according to a statement of the bank.

“The loan is meant to consolidate the growth and the continuous improvement of the Patria Bank’s market position through the main shareholder’s commitment to continue the development projects of the bank and to contribute to the consolidation process of capital, in order to allow the dynamics of the merger process,” says the bank.

Patria Bank, the bank resulted from the merger from May 2017 between the former Commercial Bank Carpatica and the former Patria Bank, posted losses of RON 42 million, to total revenues from exploitation of RON 142.5 million.

The total revenues from exploitation of RON 142.5 million are by 7.8 percent under the planned budget