MOBIASBANCA CONVENES GENERAL MEETING TO CHOOSE NEW BANK BOARD

Shareholders of the Mobiasbanca OTP Group are invited to a meeting in absentia on December 20 for choosing new members to the Bank Board.

Besides the appointment of the new board, shareholders will adopt amendments to the bank statutes.

After conducting of tender proposal to small shareholders on buying their share, the Mobiasbanca majority shareholder – the OTP group (Hungary) – is holding over 98% of the bank.

According to the “Banks and Finances” Magazine, in September 2019 the Mobiasbanca OTP Group credit portfolio grew 51 million. Besides, the bank sharply reduced the portfolio of bad credits – by 150 million lei; thus their share in the total credit portfolio fell to 5.78% from 8.29% over a month.

The rate of bank’s own funds accounted for 21.62% in September. The short-term liquidity is gradually falling – to 44.26% in September from 45.23% in August.

The asset profitability keeps staying at an attractive level – 2.31%. The profitability of capital remains in top three – 16.33%.