OREANDA-NEWS. November 27, 2014. As it was informed in the Bank, on September 4, an additional closed issue worth 30 million lei was announced.

The buyer of shares is a citizen of Iraq Mahmud Mohammed Shakir Mahmud, who received in October of this year the permission from the National Bank on the acquisition of a major stake in the Commercial Bank. Then, in October, during the auction held by the Public property Agency at the Ministry of economy, the sale of state assets to be privatized, Mahmud Mohammed Shakir Mahmud acquired 21,019% stake in EuroCreditBank at the nominal price of 100 lei per share for the total amount of 22.7 million lei.

After the approval of the issue in the National Bank, the share of the citizen of Iraq in the Bank will be 38,2%. The remaining shares are distributed as follows: 46,4% - Marianne Zissis; 10.1%-Greek companies, trusting to Mariana Zissis; 5,3%- other shareholders. As InfoMarket informed before, in April 2013, due to the fact that the regulatory capital of EuroCredibank made up 200 million lei, as the necessary minimum, the National Bank has forbidden EuroCreditBank to accept deposits from individuals (including current accounts, with the exception for the transaction cards). 

The shareholders and management of EuroCreditBank has stated that in the nearest future the bank plans to remove all restrictions and will come fully back to the market providing a full range of the modern banking services.