Loading ...The capital increase of CEC Bank will be put forward to the Competition Council and the European Commission for assent, chairman of the Romanian Banks Association and CEC Bank president Radu Gratian Ghetea told Tuesday debates sponsored by the Competition Council. 'The capital increase will be put forward to the Competition Council's assent, both at home and outside the country.
We believe it is important that a Romanian bank that has 1,400 units evenly distributed all over Romania should actively take part in going through these times of crisis', Ghetea said. The Romanian Public Finance Ministry is underwriting 900 million lei, in two equal instalments, to the CEC Bank's share capital increase; such amount must be stipulated in the 2009 state budget, according to a recently approved government ordinance. Half the amount for the capital increase should be paid to CEC Bank in the first quarter of this year, with the other half to be paid at year-end.
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