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SARAJEVO (Bosnia and Herzegovina), November 15 (SeeNews) – ProCredit Bank Sarajevo, part of Germany-based ProCredit Holding, said it plans to raise its capital via a new share issue.
The new shares will be issued in a closed sale, the bank said in a filing with the Sarajevo bourse on Thursday, without giving any further details.
The capital hike proposal will be put to vote at a November 22 extraordinary shareholders meeting, the statement said.
ProCredit Holding controls 100% of the Bosnian bank.
According to the latest financial statement posted on the website of the Sarajevo-based bank, it turned to a net profit of 49,000 marka ($28,000/25,000 euro) last year from a net loss of 4.1 million marka in 2017.
Its share capital rose to 71 million marka at end-2018 from 67 million marka a year earlier. The bank's total assets rose to almost 500 million marka at the end of last year from 445 million marka at the end of 2017.
(1 euro = 1.95583 marka)