The share capital increase will consist in issuing new shares, in exchange for contributions, with a value (authorized share capital) that cannot exceed half of the subscribed share capital existing at the moment of authorization, according to information published by the bank in the Official Journal.
The bank’s shareholders empowered the Executive Board to conduct the share capital increase, if the case may be.
Alpha Bank Romania has a share capital of RON959 million. Greek group Alpha Bank holds 99.9% of the bank’s shares and Eirini Brintakis owns a 0.08% stake.
Alpha Bank registered loss of EUR18 million in Romania, in 2015, compared with a loss of EUR58 million in 2014, due to a 61% decline in risk provision costs. End-December 2015, risk provision costs stood at EUR46 million, compared with nearly EUR120 million in 2014.
Alpha Bank’s non-performing loan (NPL) ratio in Romania reached 16.4% at the end of December 2015, compared with an average of 11.6% registered by the Romanian banking system.
The term of Alpha Bank Executive Board Chairman, Christos Giampanas, as well as the terms of the four Board members, including of the bank’s CEO, Sergiu Oprescu, have been extended until 2020.