Central Cooperative Bank is planning to increase capital from the current 72.76 mln leva (37.201 mln euros) to 83.155 mln leva (42.516 mln euros). Trade with the rights starts October 29. The bank will use the resource to acquire assets primarily in four areas.

A priority in investing the 74.641 mln leva (38.163 mln euros) will be the development of the retail banking sector, and after that, crediting small and medium businesses. The funds will also help enhance the bank's overall development and capital adequacy.

The funds will be used to enlarge the credit portfolio and to structure it in the best possible way. The management plans to extend the bank's development in the area of mortgage and consumer crediting.

As of June 30, Central and Cooperative Bank has 49 branches and 191 representations throughout the country, versus 45 branches and 175 representations at the end of 2006.

The first branch office outside Bulgaria is expected to open doors in the 4th quarter of 2007 in Nicosia, Cyprus, which targets primarily Bulgarian citizens living and working in Cyprus.

The bank is a shareholder in many enterprises, among which CCB Sila (9.95%), Insurance and Reinsurance Armeetz (9.06%), Sofia Commodity Exchange (4.50%), Coopcommerce (7.10%), Sevko (9.98%), and St Konstantin and Elena (4.16%).

CCB is a unit of Chimimport, which also includes the following: CCB Group Asset Management, Insurance and Reinsurance Armeetz, CCB Sila, Saglasie Jsc, CCB Asset Management, CCB Real Estate Fund REIT, Capital Management REIT, Bulgarian Aviation Group (Bulgaria Air and Hemus Air), Bulgarian Shipping Company (Bulgarian River Shipping AD), Chimimport Group, Chimimport Pharma, Chimimport Consult, Chimimport Finance, Chimimport Group, Chimimport Fertilizers, Chimimport Oil, Chimimport Orgachim, Chimimport Himceltex, Chimimport Rubber, Chimimport Petrol, Chimsnab, Zarneni Hrani Plovdiv, IT Creation Bulgraia, Chimimport Bimas, Oil and Gas Exploration and Production, DTB Active, Himtrans etc.

1,100 shares changed hands today at prices between 11.60 and 11.93 leva.