Banca Carpatica raises its share capital by 10 percent

The current share capital is RON 162.7 mln (€44.14 mln). To increase its share capital BCC issued 163 million shares, at a nominal value of RON 0.10 (€0.02) and an issue bonus of RON 0.03 (€0.0081) per share. Shareholders have subscribed to 161.28 million shares issued, and remaining shares will be cancelled.

This increase in share capital was determined by the expansion of the bank’s activity, which demands accelerated growth of assets. Furthermore, the bank has indicated that an increase in its share capital is necessary due to Basel II regulations, which went into effect as of January 2008.

BCC targets an increase in its market share. The bank had a net profit of RON 6.525 mln (€1.94 mln) in the first nine months of 2007, 53.39 percent lower year-on-year due to territorial expansion.