Emporiki Bank agrees on 25mn lei capital hike for its Romanian subsidiary

Emporiki Bank Greece has agreed to insert 25 million lei into its Romanian subsidiary, completely covering the share capital increase.

The capital increase has lifted the bank’s interest in its Romanian subsidiary to 99.58%.

In a similar move, Emporiki Bank Greece had disbursed in February this year, another €19 million in its local subsidiary, that brought its total share capital to 274.6 million lei.

Emporiki Bank Romania recorded a net loss of €18.35 million in 2009, twice the size of last year’s loss of €7.77 million. The bank’s assets declined 0.4% last year, to €182.22 million, from €183.03 million.

Emporiki Bank Romania has 35 outlets across the country. The parent bank, Emporiki Bank Greece is part of the France-based Credit Agricole that has operations in Greece, Albania, Bulgaria, Romania, Cyprus and UK.

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