Bloomberg News

Volksbank Raises Romania Arm’s Capital Through Share Issue, Loan

January 09, 2012

Jan. 9 (Bloomberg) -- Oesterreichische Volksbanken AG increased the capital of its Romanian unit by 220 million euros ($281 million) after obtaining shareholders’ approval at the end of last year, the unit said in an e-mailed statement today.

The bank issued 3.6 million new shares worth 84 million euros for the capital boost, extended some subordinated loans worth about 91 million euros and granted the Romanian unit a credit of 45 million euros, it said in the statement.

The capital increase, “shows the shareholders’ commitment to support the consolidation of the activities in Romania,” Johann Lurf, Volksbank Romania SA’s chief executivce officer, said in the statement.

--Editors: Alan Purkiss, Chris Peterson

To contact the reporter on this story: Andra Timu in Bucharest at atimu@bloomberg.net.

To contact the editor responsible for this story: James M. Gomez at jagomez@bloomberg.net


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