April 6 (SeeNews) - North Macedonia's Capital Bank, majority owned by Bulgaria-based investment group Alfa Finance Holding, said it decided to increase its share capital by 2.5 million euro ($2.95 million) in 2021.
The capital hike will increase the value of the bank's share capital and reserves by 50%, thus keeping the capital adequacy ratio over 20% towards the end of 2021 as the loan portfolio grows, and will represent the basis for achieving the growth and scope of activities envisaged in the 2021-2023 business plan, Capital Bank said in a statement on Monday.
The value of the bank's loan portfolio is expected to reach 2.08 billion denars ($39.8 million/33.7 million euro) this year, up 14% compared with 2020.
The bank also plans to open branches in seven cities - Bitola, Prilep, Kavadarci, Ohrid, Kicevo, Gostivar and Kumanovo - in 2021. Capital Bank already has branch offices in Skopje, Strumica, Tetovo, Kocani, Veles and Stip.
Capital Bank is 98.43%-owned by Alfa Finance Holding. Local wool producer Todor Dzipovski Merdzan Teteks owns 1.09% and Skopje-based lender TTK Banka holds a 0.48% stake.
($ = 0.8470 euro)