The European Bank for Reconstruction and Development (EBRD) said on Thursday that it has reduced its stake in Romanian lender Banca Transilvania [BSE:TLV] by 1.7 percentage points to 5.2%, according to SeeNews.com.
The EBRD sold 13.7 million shares in an accelerated bookbuild placement on the Bucharest Stock Exchange (BVB), aiming to improve the liquidity of Banca Transilvania shares on the bourse, the European lender said in a press release.
“As a continuing shareholder, the EBRD remains confident of Banca Transilvania future prospects and will continue to support Banca Transilvania’s future development,” the European lender noted.
The EBRD became a shareholder in Banca Transilvania in 2001, when it bought a 15% stake in the Romanian bank in order strengthen its capital base and support the expansion of its activities and loan portfolio.
Last month, the EBRD acquired a 3.2% stake in Romanian power distributor Premier Energy [BSE:PE] during its IPO.
Banca Transilvania‘s net profit jumped by an annual 35% the first three months of 2024, reaching 913.2 million lei ($196.3 million/183.5 million euro).
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