13.05.2010Capital Increase of Municipal Bank PLC

Municipal Bank AD has increased its share capital by BGN 9.84 million to BGN 34.84 million, boosting its Total Shareholders’ Equity to BGN 73.1 million. The shareholders have within the six month’s term set subscribed and paid in the amounts in proportion to the shares they hold, thus maintaining the shareholder structure almost unchanged. All 21 shareholders with participation in the capital exceeding 1% have participated in the increase.

The capital adequacy of the bank grows by 200 basis points following the capital increase, allowing for expansion of the bank’s lending activity to municipalities, large corporate customers, SME’s, and individuals in the branch network consisting of 95 units around the country and increase in its efficiency.