OREANDA-NEWS. November 08, 2012. JSC “NORVIK BANKA” through a share issue has increased its share capital by more than EUR 11.6 million. Capital has been increased by attracting a new significant investor from Hungary, reported the press-centre of NORVIK BANKA.  

Attracted investor is one of most successful Hungarian businessman Sandor Demjan that has increased the Bank’s share capital for almost 5%.

The company of Sandor Demjan has confirmed its strong interest in further increase of their participation in the Bank’s capital after receiving a respective permission from Financial and Capital Market Commission of Latvia (FCMC). Currently the company is negotiating with the Bank’s shareholders. FCMC is aware about the deal and increase of the share capital is approved and accepted by FCMC.

Sandor Demjan is the president of one of the biggest European development companies “TriGranit Development Cooperation” and the shareholder of “TriGranit Development” Ltd. Equally S.Demjan is the owner of Hungarian bank “Granit Bank”.

The invested funds will be used to strengthen the Banks position in local and global markets. Involvement of new strategic investor will significantly strengthen the Bank’s capital and will enable to continue implementation of development plans.

NORVIK BANKA is one of the oldest Latvian banks and is celebrating its 20th anniversary. The Bank has a wide network of branches - it has more than 80 client service centers in 17 biggest cities of Latvia. Currently the Bank continues to show a solid operating performance. In the first nine months of year 2012, the Bank’s operating income has reached more than LVL 19 mln. and net operating profit before impairment and tax was more than LVL 8 mln.

The Bank’s share capital before the increase was 57 390 281 LVL. After the registration of changes, the Bank’s share capital will be 65 568 598 LVL.