BRD Finance operates 14.9m-euro capital increase

The shareholders of BRD Finance, the consumer finance division of the BRD - SocGen group, have decided at a General Meeting of Shareholders held on the April 25 to operate a 50.2 million-RON (14.9 million-euro) share capital increase, to 58.2 million RON (17.2 million euros). The move will be conducted by increasing the nominal value of the shares from 39.94 RON to 291 RON, through a cash contribution from the two shareholders - SG Consumer Finance (France) and BRD - Groupe Societe Generale. SG Consumer Finance will contribute 25.6 million RON, while BRD - SocGen will contribute 24.6 million RON. Following the share capital increase, SG Consumer Finance will control 51% of the company's shares, with the rest being held by the bank. Last year, the volume of consumer credits granted by BRD-Finance reached 487 million RON (139 million euros), up 44% on December 2005. BRD -Finance has over 4,000 commercial partners including hypermarkets, domestic and international networks and local stores.