OREANDA-NEWS. At the general meeting of shareholders on 31 March 2013 АS NORVIK BANKA plans to adopt a decision on reduction of the nominal value of its shares. Historically, the Bank has accrued a large sum of paid-up share capital which was affected during the economic crisis. Last December, however, NORVIK BANKA issued efficiently shares in the total amount of more than 28.4 million euro (20 million LVL).

The nominal value of a share is to be reduced from 1.42 euro to 0.40 euro.

The goal of such an action is to approximate the value of shares to their true value which complies with the world practice and increases the shareholders’ interest. In general, in like manner act those companies that have overestimated their balance and accrued losses. In such a way NORVIK BANKA will become more eligible for new investments and get ready to a new development stage.