Piraeus Bank Romania hikes share capital 8.7%

Piraeus Bank Romania, the unit of Greece's fourth-biggest bank, increased its social capital by 8.7 percent to 950.85 million lei through cash inputs and the incorporation of non-distributed profit on 2008, the lender announced.

The capital hike of 76.185 million lei was done through cash input from the main shareholder, Piraeus Bank Greece, but also through incorporating 8.87 million lei as non-distributed profit realized by the subsidiary in 2008.

“Although the lender's solvency index exceeds by large the regulated thresholds, the shareholders decided to hike the capital to continue to support and develop operations in Romania,” declared the general executive director of Piraeus Bank Romania, Catalin Parvu.

Piraeus Bank reported a 39 million lei net profit in the first three months, 15 percent lower compared to the similar period in the previous.

The lender's main shareholder, Piraeus Bank Greece, owns 99.99 percent of the current share capital.

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