Shareholders on April 27 approved a share capital raise by RON620 million, for which the bank will issue 620 million new shares at a face value of RON1.
The lender had assets of RON46 billion at the end of the first quarter, up 1.5% compared with the end of 2015.
“The first quarter of 2016 features sound, sustainable growth of the lending activity and number of operations. Our target is to use the background provided by our solid financial statements in order to invest in new projects, modernize the network, digitize, automate, and modernize flows, so that our bank becomes a convenience store. We wish to increase our income through higher volumes, without raising the costs for clients,” said CEO Omer Tetik.
Non-performing loans, with overdue payments exceeding 90 days, account for 9.04% of the bank’s lending portfolio.