January 3 (SeeNews) - Bulgaria's Texim Bank said that its supervisory board decided to increase its capital to roughly 30 million levs ($16.2 million/15.3 million euro) from some 28 million levs by way of a convertible bond.
The lender will issue 2 million new shares of 1 lev in par value each, following the conversion of 5,000 ordinary, non transferable, unsecured interest-bearing notes of 1,000 levs in par value each, the bank said in a bourse filing published on Friday.
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The lender has been active in Bulgaria for over 30 years and has more than 4,000 shareholders. It last increased its capital to 28 million levs from 10 million levs in January 2013.
Texim Bank grew its consolidated net profit to 1.04 million levs in the nine months through September from 490,000 levs a year earlier. It is the 17th largest among 25 banks doing business in Bulgaria as at the end of November, central bank data showed.
(1 euro = 1.95583 levs)