Possible 50m EUR worth of additional capitalization of Agrobanka in 2010

- The Administrative Board of Belgrade-based Agrobanka made the decision on additional capitalization worth 50m EUR in 2010 - a member of the bank's Executive Board, Nikola Aranđelović, said on December 25th, 2009.

He said to the press that the final decision on increase in the capital of Agrobanka would be made by the Assembly of stockholders.

Aranđelović was unable to specify when the additional capitalization would take place or how big the issue of stocks would be, but he said that all that would depend on the trends on the Belgrade Stock Exchange.

According to the data provided by the National Bank of Serbia, the capital of Agrobanka at the end of September 2009 amounted to 16.5 billion RSD (about 170m EUR).

Agrobanka has about 5,000 stockholders and, according to the data provided by the Central Securities Registry, the major stockholder is the state of Serbia with 20% of capital in its possession.