Belgium's KBC Serbian Unit To Increase Capital by 35 Mln Euro Next Year – Media

The bank’s capital was increased by 50 million euro this year as these and the new funds will be used to develop its network, employ new stuff, as well as to improve services in order to attract more clients, KBC Banka's CEO, Avram Milenkovic, was quoted as saying by Tanjug late on Monday. He did not say what is the size of the bank's current capital.

According to latest data from Serbia’s central bank, KBC Banka's capital stood at some 60 million euro at the end of September, but it was not immediately clear whether this figure includes the 50 million euro capital hike carried out in 2008.

KBC Banka, formerly A Banka, changed its name after KBC Group acquired it last year through a public takeover bid. At the end of September, it ranked as the 26th largest Serbian bank by assets out of 35 banks active in the country.

($=0.7136 euro)