Romania's ProCredit Bank Raises Capital To Back SMEs

"The capital hike will strengthen the bank's capacity to support the development of small- and medium-sized enterprises (SMEs) on the Romanian market," ProCredit Bank Romania director general Gian Marco Felice said in a statement.

The main shareholders of ProCredit Bank Romania are ProCredit Holding, Germany’s bank Commerzbank and European Bank for Reconstruction and Development (EBRD), with stakes of 32.22%, 21.02% and 16.53% in the bank, respectively. The International Finance Corporation and Germany’s development bank KfW own 12.06% and 13.21% in the bank, respectively.

ProCredit Bank Romania, set up in 2002, is part of a network of banks established as a partnership between public development lenders and private companies, such as the EBRD, the International Finance Corporation and German development bank KfW.

(1 euro=4.2999 Romanian lei)