Bosnian lender Bobar Banka plans to raise share capital.

By bne IntelliNews October 21, 2010
Local commercial lender Bobar Banka announded plans to raise its share capital through a new share issue, the company said in a statement to the Banja Luka Stock Exchange (BLSE). Shareholders will vote on the proposed increase at an extraordinary meeting on Nov 4. The net profit of Bobar Banka soared by more than 13 times y/y to KM 5.6mn (EUR 2.9mn) in H1, the bank's preliminary financials as disclosed by the BLSE, showed. The total assets of the bank grew by 4.4% ytd to nearly KM 327.9mn at end-June. The Bijeljina-based lender, which operates a network of nine branches and 40 outlets, is part of local Bobar Group which is active in various sectors, including insurance, construction, transport, delivery services, tourism and trade. The bank mainly focuses on providing loans to medium-sized and large businesses as well as to private individuals.

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