Bancpost owner to withdraw EUR 51 mln from lender’s capital

Greek group Eurobank, which owns the local lender Bancpost, wants to withdraw RON 235 million (EUR 51.3 million) or 20% of the bank’s social capital. It will return the money to the shareholders, reports Profit.ro. Eurobank argued that Bancpost has capital excess. However, Romania’s National Bank (BNR) needs to approve the measure. The lender’s Board of Directors approved the capital’s reduction by RON 235.7 million to RON 943 million (EUR 205.4 million) by reducing the nominal value of each share from RON 0.40 to RON 0.32. The shareholders will get back RON 0.08 per share. Bancpost had a market share of 3% at the end of last year. It ranked 9th based on the value of assets. The bank is up for sale and its potential buyers are local lender Banca Transilvania and US fund Varde. Rothschild is behind the US fund interested in Romanian lender Bancpost editor@romania-insider.com