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Nextebank will become Patria Bank

Nextebank, the bank owned by the private equity fund Axxess Capital, which recently has acquired a majority stake in Banca Carpatica, will change its name in Patria Bank, Horia Manda, Axxess Capital manager,  said in an interview for Wall-Street.ro.

The main short-term objective of the re-named bank aims at Banca Carpatica’s integration, after obtaining the approval of the Competition Council for the purchase of the majority stake.

According to previous information reported by The Romania Journal, businessman Ilie Carabulea and four other shareholders of Banca Comerciala Carpatica (BCC), intends to sell to Nextebank 20% of the BCC shares, consequently Nextebank will become majority shareholder following a subscription of new shares.

The stake for Nextebank, after the subscription of 986,663,916 newly issued BCC shares, would reach 47% of the new total number of shares, and following the acquisition of 20% of the current shares, would take control of the BCC, its share would get above 56%.

Banca Carpatica registered losses last year of RON 85.4 million, according to the bank’s statement sent to the stock exchange. The loss includes provisions amounting to RON 32.6 million recorded in connection with the non-performing loans portfolio and RON 35 million representing adjustments for depreciation and losses resulting from the revaluation of repossessed assets.

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