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Montenegro's Universal Capital Bank hikes capital to 16 mln euro

Montenegro's Universal Capital Bank hikes capital to 16 mln euro cozyta/Shutterstock.com

PODGORICA (Montenegro), February 6 (SeeNews) – Montenegro's Universal Capital Bank [MNG:FFBN] has increased its share capital to 16 million euro ($18.4 million) through the conversion of non-cash capital contribution into equity, the operator of the bourse in Podgorica said.

After the hike, the bank’s equity capital is divided into 16,002,000 shares with par value of 1 euro each, the Montenegro Stock Exchange said on Thursday.

Universal Capital Bank was previously known as First Financial Bank and was renamed in June 2014. The bank is majority owned by local trade company Sigma Delta Holdings.

($=0.8771 euro)

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