Patria Bank’s social capital up by EUR 13 mln and takes a loan from EEAF Financial Services BV’s main shareholder

Patria Bank, the bank resulted from the merger between Commercial Bank Carpatica and the former Patria Bank, will increase its social capital by EUR 13 million, a decision that will be approved in the Shareholders’ Meeting on March 12. Moreover the bank took a loan of EUR 4.3 million from EEAF Financial Services BV’s main shareholder to consolidate the increase.

“We propose the increase in the social capital by approximately EUR 13 million, out of which EUR 9.9 million will go to the main shareholder EEAF Financial Services BV, and EUR 3.1 million will go to the minority shareholders for the preference rights,” according to the convener to Bucharest Stock Exchange (BVB).

Patria Bank took a loan of EUR 4.3 million from EEAF Financial Services BV’s main shareholder, with 6 year maturity with a reimbursement in one installment.

Patria Bank adds that it closed an addendum to the loan contract with the term of August 23,2016, amounting to EUR 4.35 million, given by EEAF Financial Services BV, with a maturity of 7 years and 8 months and with a reimbursement in one installment.

„The loans aim to consolidate the increase and continuous improvement of the Patria Bank position in the market, through the main shareholder’s commitment to continue the bank’s development projects and to contribute to the social capital consolidation process, allowing the dynamic increase,” says the bank.

Patria Bank registered losses of RON 42 million in 2017 and total revenues from exploration of RON 142.5 million.

The operational expenses, amounting to RON 165 million, registered a drop by 2.9 percent compared with the budget plan, due to the bank reorganization process.