Euro Bank eyes capital expansion to move into loans

This would be achieved by a new share issue designated for the main shareholder in the bank - French Societe General (SG). Last week SG acquired further shares of Euro Bank from Look Finansowanie Inwestycji and currently controls 98.4% of all votes. However, the cost of acquiring any stock by Societe General has yet to unrevealed. Both Euro Bank and Look are refusing to reveal financial results. Funds from the new share issue will be ploughed into further development of the institution, which might be related to introducing credit cards and mortgage loans. The meeting's agenda will allow debate to changes in Euro Bank's statute. (Puls Biznesu, pp. 1, 6) M.M.