Romania’s largest lender BT boosts capital

Banca Transilvania, the largest bank in Romania by assets, announced that it would raise its equity capital by RON 401 million (EUR 84 million), to RON 5.21 billion (EUR 1.1 billion), according to Romania-Insider.com.

The lender will issue 400.8 million new shares with a nominal value of RON 1 each, which will be distributed for free, on August 5, to shareholders registered as of August 2.

“The operations for registering the share capital increase at the Central Depository are currently in progress,” a report sent to the Bucharest Stock Exchange (BVB) shows.

The bank’s Extraordinary General Meeting approved the issue of free shares on April 24, 2019. The money comes from last year’s net profit, part of which the shareholders decided to capitalize.

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