Contract signed on additional capitalization of Čačanska banka

In the premises of the Government of Serbia, the representatives of the European Bank for Rehabilitation and Development (EBRD) and Čačanska banka signed yesterday (September 25, 2006) about 15m EUR worth of contract on additional capitalization of 25% of stocks of that domestic bank, which made EBRD and the State of Serbia the majority stockholders of that bank.

The contract on additional capitalization was signed by Serbian Minister of Finance, Mlađan Dinkić, the manager of the EBRD Office in Belgrade, Dragica Pilipović-Čefi, and the general manager of Čačanska banka, Dragan Jovanović.

On that occasion, Dinkić said that, after the additional capitalization, the capital of EBRD in Čačanska banka would be increased from 21.2m to about 40m EUR and he added that the State's share would be cut from 51.7% to about 39%.