The propositions will be discussed at the bank’s general shareholders assembly on April 28.
Carpatica rejected Nextebank’s merger offer in December last year and authorized the bank’s management to raise the share capital by maximum RON155 million (EUR34.67 million) for a one-year period.
The bank’s management now want to lower the share capital by RON204.5 million, from RON314.6 million to RON110.13 million by canceling 2.04 billion shares, to cover part of the losses the bank accumulated until the end of last year.
The board of directors proposes a future capital hike of RON135 million in October, to a maximum of RON245.13 million, to allow for the implementation of the bank’s development plans.
Carpatica posted a loss of RON170 million last year, from a profit of RON38.4 million in 2013, after booking additional provisions worth RON231.6 million for non-performing loans.
By the end of last year, the bank had accumulated a total loss of RON224.98 million.
BCC shares dropped 15% on the Bucharest Stock Exchange Thursday, to RON0.0515 a share, following the capital reduction announcement.