Volksbank hikes capital, names new chairman

The board of Volksbank International agreed to raise the capital of its Romanian subsidiary, Volksbank Romania by €200 million and replace Gerald Schreiner and Herwig Burgstaller from the bank’s managing board. The new directors of Volksbank Romania are subject to NBR approval. Their names haven’t been disclosed yet.

Gerald Schreiner, chairman of Volksbank Romania for almost 5 years “will use his extensive banking expertise in his new responsibilities at VBI for the development of the group’s business” while Herwig Burgstaller, vicepresident, “will use his expertise at VBI’s subsidiaries”, Volksbank said in a release.

Two vice presidents are currently in Volksbank’s managing board, namely Simona Fatu and Valentin Vancea, who will remain in office.

“The new members of Volksbank Romania management are already appointed and are pending for NBR approval”, said the bank without further details.

The board of the group has also agreed to raise Volksbank Romania’s capital by €200 million.

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