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Analiza ZF · Economic

ATE Bank Romania Hikes Capital To RON221M

ATE Bank Romania Monday said it has increased its share capital by 84.47 million lei (around EUR20 million) to RON220.94 milion, via cash contribution from its majority holder, Greece’s ATE Bank.

de Florentina Dragu , 24658 12.12.2011 · 11:14 1 min de citit

Following the move, ATE Bank Greece upped its stake in the Romanian lender to 84%, from 74.13% previously.

“The decision to increase the share capital of ATE Bank Romania reflects the commitment to support the bank’s activity taken by its management and by its majority shareholder,” said Sotirios Skandamis, Chief Executive Officer of ATE Bank Romania.

The Greek bank said in October that it plans to sell its stake in ATE Bank Romania, under a restructuring program announced earlier this year.

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