The approval gives the bank's management five years to carry out the capital increase, with the added possibility to exclude the pre-emption right of existing shareholders if the newly issued shares are subscribed by the state or para-state entities.

This in effect means that small shareholders will be squeezed out, as the state already owns, indirectly and via state-owned companies, over 90% of voting rights, and plans to provide the capital as part of efforts to shore up the banking system.