Romanian financial company SIF Banat-Crisana plans to double its share capital y/y in 2008

The decision will be made on April 23.

If the share capital increase fails to be approved, the company's board suggests to pay dividends of 0.07 lei per share, totaling 38.4 million lei.

The company's net profit stood at 122.8 million lei last year, up 47.7 percent against 2006. Its earnings hiked 18.6 percent in 2007 from 2006, to 182.96 million lei (50.68 million euros).

SIF Banat-Crisana plans investments of 73.4 million lei this year, the company president said, adding some factors such as the evolution of foreign capital markets and the widening deficits have also been considered when projecting the profit target.

The company is planning to spread tentacles on foreign markets too, Cuzman added.

SIF Banat-Crisana's net assets reached 2.024 billion lei at the end of 2007, standing for a 3.6892 lei price per share, a 33.4 percent increase from 2006.

Source: NewsIn