Volksbank Romania to receive EUR 220 mln capital increase

The shareholders at Volksbank Romania have decided, at the end of 2011, to increase the capital of the bank, in a move that should consolidate its presence in Romania. Thus, Volksbank denies any rumors regarding a possible retreat from the local market.

The newly voted measures include an increase of EUR 84 million in share capital through the issuance of around 3.6 million new shares. Another EUR 91 million will obtained from the extension of subordinated loans and through a new subordinated loan worth EUR 45 million. These measures should increase the funds of Volksbank Romania by EUR 220 million.   

Volksbank has assets of EUR 4.7 million and operates a network of 135 banking units in Romania.

Ovidiu Posirca

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