The increase in the share capital will be carried out through the capitalization of reserves from the net profit of the year 2020, in amount of RON573.7 million by issuing shares with a nominal value of RON1 for the benefit of shareholders registered on September 10.
The bank’s shareholders also approved the buyback of up to 35 million shares (0.61% of the total) at a maximum price of RON3.5 per share, meaning a buyback program of up to RON122.5 million.
According to its 2021 budget, also approved Wednesday, Banca Transilvania targets operating revenues of RON4.15 billion, operating expenses of RON2 billion, net provisions of RON590 million, and a gross profit of RON1.5 billion.
The bank also plans to invest a total of RON400.9 million, of which RON64.6 million in buildings for its agencies and branches, RON234.5 million in IT and cards, RON11.8 million in security, RON15 million in its cash processing center, RON46.9 million in digital initiatives and RON28.2 million for other investments.
Banca Transilvania has a stock market capitalization of RON14.1 billion.