Romanian lender Libra Internet Bank ponders EUR 40 mln bond issue

Libra Internet Bank, controlled by the US investment fund New Century Holdings (NCH), wants to issue bonds of up to EUR 40 mln, with a fixed or variable interest rate, Ziarul Financiar reported.

The issue is subject to approval by shareholders in the General Assembly on May 16. The details related to the issue, including the type of bonds, the interest, the moment of issuance, their number, and value, will be established by the bank's Board of Directors.

Libra Internet Bank is a small local lender specialized in the niche of the liberal professions. It has already listed bonds worth EUR 4.2 mln on the Bucharest Stock Exchange.

The bank ended 2020 with a net profit of RON 38 mln (EUR 8 mln), down 67% compared to 2019, while total operating income increased by 3.73% to RON 341 mln (EUR 71.8 mln). At the end of last year, the value of the bank's assets was RON 7.32 bln (EUR 1.5 bln), 12% up year-on-year. It was the 13th biggest Romanian bank by assets.

(Photo: Libra Internet Bank Facebook Page)