
4 March 2009
Venture Capital Banks' General Assembly approves increase in Capital to US$ 250 Million
Venture Capital Bank held its Annual Ordinary & Extraordinary General Meeting on Wednesday, March 4, 2009 at the Sheraton Hotel Bahrain to discuss the external auditor's report and approve the financial statements for the year ended 31 December 2008, in which the bank achieved net profit of US$ 47 million with 47% growth compared to last year with 27% return on equity. Furthermore, VC Bank announced expansion plans in its operations after the Extraordinary Assembly approval of an increase in VC Bank’s authorised and paid-up capital from US$ 165 Million to US$ 250 Million with an increase of US$ 85 Million to go in line with its Board of Directors approved strategic plans.
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