On the other hand, no bank or insurance company raised its capital in May.
The biggest capital raise by a non-banking financial was performed by Ferratum, a Finnish company that posted a loss of RONM33 million last year. Another NBFI to raise its share capital in May was Askredit, which injected nearly EUR200,000.
Last year, companies on the local financial market raised their capital by a total EUR700 million. Nearly 90% of the amount went to banks, mainly to cover losses and not for expansion.
Last year’s biggest capital hike was performed by Austrian Volksbank, which was taken over by Romania’s Banca Transilvania and which raised its capital by EUR482 million.
In the first quarter of the year, foreign investors with businesses in the Romanian financial industry brought over RON145 million (EUR33 million) in capital to their local subsidiaries and the most active ones were in the insurance industry.
Foreign-held insurance companies raised their capital by a total RON132 million in the first quarter, around 90% of all capital hikes in the financial sector.