Hungary’s OTP Montenegrin Banking Unit Raises Capital by 32%

“The issuer Crnogorska Komercijalna Banka AD Podgorica raised its capital to 61,876,545.738 euro, or 121,020 shares with a face value of 511.29 euro each,” the bourse said in a statement on its website.

Prior to the capital hike, the bank had 91,682 shares with the the same par value, it added.

CKB turned to a net loss of 15.1 million euro in the first half of 2009 from a profit of some six million euro a year earlier. The bank’s assets totalled some 1.0 billion euro, ranking it first among the 11 commercial banks that were active in Montenegro at the end of June.

OTP bought CKB in 2006 for 105 million euro.

($ = 0.6774 euro)