Bulgarian Cibank plans 13.9% capital hike.

By bne IntelliNews June 1, 2010
Bulgaria's tenth-largest lender, Cibank, announced plans to raise its capital by 13.9% to BGN 79.4mn (EUR 40.6mn), the bank said through the stock exchange. The bank will issue 965,365 shares with a face value of BGN 10 and an issue price of BGN 81.04. The Belgian financial group KBC owns 81.68% of Cibank. The lender's net profit plummeted by nearly 90% y/y to BGN 973,000 in Q1.

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