TTK Banka Boosts Capital by $1.2M via New Share Issue

TTK Banka, a North Macedonian lender, announced on May 10, 2024, that it has increased its capital by 67.6 million denars ($1.2 million/1.1 million euro) through the issuance of new shares. The bank issued 67,587 ordinary shares at a price of 1,000 denars each, equal to their nominal value.

Why this matters: This capital increase can have a positive impact on the stability of North Macedonia's financial system, and it may also influence the country's economic growth. A stronger banking sector can lead to increased investor confidence and more opportunities for businesses and individuals.

Following the capital increase, TTK Banka's capital is now divided into 1,033,173 shares with a par value of 1,000 denars each. The newly issued stock will be distributed to shareholders in the form of a dividend in shares, as previously announced by the bank.

TTK Banka's shares last traded on the Macedonian Stock Exchange (MSE) on April 30, at an average price of 1,452 denars. The exchange rate used in the announcement is 1 euro = 61.66 denars.

The capital increase of $1.2 million through the issuance of 67,587 new ordinary shares strengthens TTK Banka's financial position. Distributing the newly issued stock to shareholders as a dividend in shares aligns with the bank's previously communicated plans.