“To continue to develop we need additional capital of about EUR10 million to EUR30 million. We want to raise it from a strategic investor,” CEO Johan Gabriels said during the half-year analysts and investors meeting on Tuesday that was open to the press.
The strategic partner will be brought into the company by diluting the stake of the largest shareholder, he added.
This was the first outing of the Belgian executive as CEO of Banca Carpatica, a position he got in March.
The sale of a minority stake could happen some time in the next few months, Gabriels added.
Carpatica’s main shareholder is businessman Ilie Carabulea who owns 46% directly and indirectly. The bank’s loan/deposit ratio is about 60%, compared with the system average of 140% but solvency is 10.6%, below the 14.7% system average.
Carpatica stock rose 74% this year to 0.068 lei (EUR0.02) and a capitalization of RON215.2 million, after the new CEO took over and financial results improved. (EUR1=RON4.4684)
(English version by Loredana Fratila-Cristescu)