EBRD to Support Meritum Bank with EUR14 Million
European Bank for Reconstruction and Development will raise the capital of Meritum Bank, Rzeczpospolita daily informs; although the agreement has not been signed yet, the board of EBRD Directors has made decision concerning the matter. The capital of Meritum is to rise in total by EUR34 million. Out of the amount EUR14 million will be granted by the EBRD, while the rest is to be provided by a new investor, the name of which is still has still not been revealed; according to rumours, it is a private equity fund operating which has not been operating in Central Europe, yet. The gained funds are to be allocated to the continuation of the restructuring process, profitability improvement and increasing the portfolio of loans offered to small firms. As for now, 95 stake of the bank belongs to InnovaCapital, which has been looking for an investor for Meritum for more than a year.