EnglishShareholders in Bank Leumi Romania SA convened early this week and decided to increase share capital by 85,000,000 RON from 91,588,885 RON to 176,588,885 RON by issuing 850,000,000 shares with a face value of 0.1 RON, the same as that of the existing shares. Shareholders registered as such by July 17th, 2007 will be able to subscribe 0.93 new shares for each existing share.
"The first phase in increase the share capital, by 85 million lei, has been accomplished in line with the growth in the balance of Bank Leumi Romania. The share capital increase is the result of the growth in the bank"s business and may contribute to doubling the existing balance.
"Our plan is to start making a profit in 2008. The process will unfold in three steps in order to eventually reach a share capital of 100 million dollars. We will continue to expand vertically and horizontally and make investments in expanding our network," said Dr. Zalman Segal, Chairman of the Board of Bank Leumi Romania.
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