Credit Europe Bank Romania (CEB Romania) will make a capital reduction at the Extraordinary General Assembly of Shareholders on September 7, 2016, in order to cover the accounting losses from 2014 and the previous period.
The share capital of the bank amounts to 763,605,997.00 lei (355,165,580 shares at a unit value of 2.15 lei per share) and will become 557,609,960.60 lei (355,165,580 shares at a value unit value of 1.57 lei per share). Referring to this action, CEB Romania officials said: "This capital reduction does not imply, by its very nature, any share distribution to shareholders. This loss-absorbing operation also does not affect the net asset value of the funds own and liquidity of CEB, the bank's solvency ratio remaining unchanged at a solid level”.
About Credit Europe Bank
Credit Europe Bank has over 15 years of experience in the Romanian banking sector. Since it was founded, the Bank's vision has always been to be the bank of choice in Romania. Therefore, setting standards for excellence in banking while maximizing the benefits of clients, employees and shareholders show's that the bank's mission tends towards achieving this vision. Credit Europe Bank (Romania) SA is offering a complete range of banking products and services to both corporate and retail customers through 59 service points in which specialized personnel are employed and alternative distribution channels consisting of ATMs, POS, Call Center and Internet Banking.
Credit Europe Bank's biggest contribution to Romania banking sector is CardAvantaj, an innovative product for the Romanian market when it was launched. CardAvantaj started in 2003 as a proprietary credit card with usage restricted to a shopping mall only, and is now an international credit card issued under MasterCard and Visa license. Throughout the years CardAvantaj has been a pioneer bringing unique features and innovative promotional methods to the Romanian market.The partners' network includes a wide range of retailers covering most important international and local brands. CardAvantaj is rewarded as the best credit card of Romania in 2004, 2008 and 2009.