CEC Bank hikes share capital to lei 949.3m by capitalizing profit

After capitalizing the profit, CEC Bank's share capital was raised to 949.285 million lei divided into 9,492,850 nominative shares with a nominal value of 100 lei.

The Romanian executive has also foreseen in this year's budget the capital hike at CEC Bank by 900 million lei, a sum that was subsequently reduced by almost 150 million lei to 753 million lei.

The CEC Bank capitalization is still pending the OK of the European Commission, who is not yet convinced that the amount would not represent a state aid, according to the head of the competition watchdog, Bogdan Chiritoiu. 

If the Commission decides this is a state aid, the Finance Ministry will not be able to contribute with the initially announced sum.