Banca Comercială Carpatica (BCC stock symbol) controlled bySibiu-based businessman Ilie Carabulea, proposed its shareholdersto increase the share capital by 63.5 million RON (14.9 millioneuros) by contribution in cash to 342.4 million RON (80.5 millioneuros), so that it could better withstand macroeconomic shocks.
"The capital increase is intended to keep the bank going andprovide a comfortable solvency indicator. Carpatica, like the restof the banks in the system, has to be cope with a high credit riskcost," said Nicolae Surdu, general manager of Banca ComercialăCarpatica.
If approved by the General Meeting of Shareholders on October 9, itwill be the second capital increase conducted by the bank this yearafter having raised 50.8 million RON from its shareholders thisspring as part of a 62.2 million RON capital increase. At thebeginning of the year, the bank proposed a record capital increaseof 103.4 million RON but shareholders only approved 60% ofit.
Ilie Carabulea, the biggest shareholder, owns 37.9% in the lender,and should contribute 24 million RON in the increase.
Carpatica ended the first half with 40.2 million RON operatingincome, but the cost of credit risk caused it 100 million RONlosses.
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