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Montenegro's Universal Capital Bank hikes capital to 12 mln euro

Author Radomir Ralev
Montenegro's Universal Capital Bank hikes capital to 12 mln euro Source: Simes Engineering

PODGORICA (Montenegro), October 28 (SeeNews) – Montenegro's Universal Capital Bank [MNG:FFBN] has increased its capital by 4 million euro ($4.4 million) to 12.1 million euro through the conversion of bonds into common stock, it said.

Universal Capital Bank has issued 7,952,200 new shares with a nominal value of 0.5 euro apiece, it said in a Montenegro bourse filing on Friday.

Following the move, Universal Capital Bank's share capital comprises 23,954,200 shares of 0.5 euro in nominal value each, the lender noted.

The convertible securities, with UC01 and UC02 tickers, were removed from the register of Montenegro's Central Securities Depository and Clearing Company's (CKDD) after the completion of the transaction.

The bank said earlier its net profit went up to 1.9 million euro in the first half of 2019 from 151,000 euro in the like period of last year.

($ = 0.901862 euro)

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