Brief: Varengold Bank swings to FY profit of 209,000 euros

Ascory Bank AG

23/04/2015 07:33

April 23 (Reuters) - Varengold Bank AG  VGBG.DE : 
    * Said on Wednesday it had approved bank capital increase with resolution of its 
Extraordinary Shareholders Meeting on Jan. 20 
    * Equity of the company was increased with the approval of the Supervisory Board to 
1,948,368 euros ($2.09 million) from 1,771,405 euros through the issuance of up to 176,963 new 
shares under exclusion of subscription rights 
    * Shares were placed at an issuance price of 20.00 euros per share with an international 
investor 
    * The product portfolios of the business areas Capital Markets and Commercial Banking will 
be further extended with the new funds 
    * Closed fiscal 2014 with a profit in the amount of 209,000 euros versus loss of 3,681,000 
euros year ago 
    * Interest income of the Company in 2014 rose to 1,995,000 euros from 311,000 euros year ago 
    * Commission income climbed to 5,640,000 euros from 2,102,000 euros year ago 
 
     
  
 Source text for Eikon:  ID:nEQ3k7ct0a  
     
 Further company coverage:  VGBG.DE   
    
 
($1 = 0.9341 euros) 
 
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