Volksbank Romania Ups Share Capital By RON363M
Volksbank Romania, the local unit of Austria’s Volksbank AG, will increase its share capital by 362.8 million lei (EUR84 million) to RON903.15 million, the lender said Monday.
The bank also approved increasing its funds by EUR136 million via a series of subordinated loans.
Founded in 2000, Volksbank Romania was recently transferred to a special vehicle majority-owned by Austrian Volksbank, after the latter sold its eastern European arm to Russia’s Sberbank.
The Romanian unit was not part of the deal. However, the mother bank said it plans to sell Volksbank Romania, following a reorganization plan that would take two to three years.
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