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BERD and IFC set to get Banc Post stake

11.11.2003, 00:00 13



Double capital and new shareholders - the European Bank for Reconstruction and Development (EBRD) and the International Finance Corporation (IFC). These are the plans of Banc Post for the end of the year. The two international institutions will thus expand their participation in the Romanian banking system by accepting to convert into shares two $8m loans granted to Banc Post. EBRD and IFC have recently taken over a 25% stake in the Romanian Commercial Bank (BCR). The shareholders of Banc Post will meet on November 25 to discuss the board proposal to increase capital from 664bn ROL to 1,176bn ROL (some 29.6m euros). ZF



 

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