Local lender Banca Comerciala Carpatica (BCC) will reduce its capital by EUR 45.5 million to EUR 24.5 million to cover its losses and then will make a capital increase of EUR 24.5 million by issuing new shares.

The share capital will thus reach EUR 49 million, from the current level of EUR 71 million. The reduction will be finalized in September and the increase in November, the bank’s shareholders decided in a meeting last week.

They also decided to cover the loss cumulated on December 31 last year from the share capital, and from various undistributed profits.

The shareholders also decided to reduce the number of Supervisory Board members from five to three.

Banca Carpatica’s shareholders didn’t make a decision about the merger with Nextebank, as the quorum of the meeting was too low to allow taking such a decision.

Banca Carpatica is one of Romania’s smaller banks. It had assets of some EUR 730 million and losses of EUR 38 million in 2014.

editor@romania-insider.com