Moldova's ProCredit Bank Raises Capital to 144 Mln Lei (10.6 Mln Euro) To Back Development

The share issue was part of the strategy of the bank’s main shareholder, Germany's ProCredit Holding AG, to support, develop and expand ProCreditBank in Moldova, the bank said in a statement sent to SeeNews.

ProCredit Holding AG was the sole subscriber of the share issue and raised its stake in the bank from 90.77% to 91.67%, ProCredit Bank Moldova said.

The bank issued 14,000 shares at a par value of 1,000 lei per share, it added.

ProCreditBank Moldova, established in 2004, is part of a network set up in 2001 by international financial institutions to support the growth of small and medium-sized private enterprises in developing countries.

The Dutch DOEN Foundation holds the remaining stake in ProCredit Bank Moldova.

(1 euro=13.6159 Moldovan lei)