Currently, National Bank of Greece (NBG) owns 99.99987% of the leasing company’s stock, while Banca Romaneasca, itself owned by the Greek financial group, holds 0.00023%.
After the company reduces its capital from RON31.72 million to RON1 million, National Bank of Greece will have 99.999% of the stock, while Banca Romaneasca will have 0.001%.
Later, NBG Leasing will raise its capital to RON15.56 million, by issuing 1,456,043 shares with a face value of RON10 and an accounting value of RON46. Banca Romaneasca will buy all these new shares for RON66.97 million, ending up with a stake of 93.57%.
NBG Leasing’s cumulated losses over the last two years amount to around RON120 million, according to Finance Ministry data. In 2009, the company reported net profit of RON29.36 million.
Set up in 2003 as Eurial Leasing, it became a member of the NBG group at the end of 2005. The Greek group also controls insurance firm Garanta, NBG Securities Romania and NBG Factoring Romania. (EUR1=RON4.5307)