Romanian lender Credit Europe Bank doubles share capital to EUR 189m, in a bid to develop business

Shareholders of Credit Europe Bank, controlled by the Turkish group Fiba, decided to add 375 million lei to its share capital to 675 million lei, in a bid to develop business, according to the bank's representatives.

The bank plans to acquire the companies Credit Europe Leasing IFN and Credit Europe Ipotecar IFN, as well as to enhance the credit portfolio.

The increase implies the conversion of three credits worth 150 million lei at the share capital and a 225 million lei contribution in cash. There were issued 174.4 million new shares, with a face value of 2.15 lei.

Credit Europe Bank is majority owned by the Dutch-based Credit Europe Bank NV which has 89.8 percent of the company's share capital. Credit Europe Leasing IFN owns 1.11 percent and the rest of 9.09 percent belongs to other shareholders.

Shareholders also decided to change terms of buying a participation in Credit Europe Ipotecar IFN, worth 73.08 million lei. After taking over the participation, Credit Europe Bank will reach 99.99 percent of the share capital of Credit Europe Ipotecar IFN.

Credit Europe Bank shareholders agreed on buying another company of the group, Credit Europe Leasing IFN SA, by acquiring a 99.99965 percent stake.

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