Feb. 18--BUCHAREST -- The shareholders of the Romanian International Bank (RIB) will hike the bank's own capital by converting a subordinated loan worth 1.2 million euros and granting a new credit worth 2 million euros, the bank announced on Tuesday.
The increase in the Romanian International Bank's own funds is part of the development strategy of the Getin Holding group of Poland, being a first step in a long series of changes.
'Starting with the acquisition of the Romanian International Bank, Getin Holding launches its development strategy on the local market. Our objective is to turn the bank into a powerful and efficient financial institution, an active player in the key sectors of the market. As a group, we provide a successful business model we want to implement in Romania too. But we also seek to adapt this model to the local context and to the clients' needs, because only such an approach can guarantee our success,' Management Board President Rafal Juszczak said.
The transaction on selling the Romanian International Bank to Getin Holding ended on December 4, 2013.
The RIB is an universal bank that has been operating on the Romanian market since 1998. It currently has 34 subsidiaries located in Bucharest (15) and nationwide (19), with its main goal being to improve the services and products offered to their clients on a continuing basis.
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