NLB Montenegrobanka hikes share capital by 18.3%.

By bne IntelliNews July 26, 2010
Commercial bank NLB Montenegrobanka has increased its share capital by 18.3% to EUR 12.9mn by converting debt into equity, Montenegroberza informed. The lender issued some 359,453 new shares with a face value of EUR 5.56 each. The statement fails to elaborate whether the ownership structure has changed following the latest issue. NLB Montenegrobanka has already increased its capital by 33% earlier in the month. The lender saw a 38.8% y/y contraction of its net profit to EUR 1.4mn in 2009. It is majority controlled by Slovenian lender NLB.

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