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BBVA Banco Continental appoints new directors, approves capital increase

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BBVA Banco Continental appoints new directors, approves capital increase

Theboard of Peru's BBVA BancoContinental SA on March 31 appointed two new directors and onealternate director, the bank said in a securities filing.

JavierMarin Estevez and José Ignacio Merino Martin are the new directors, replacingManuel Mendez Del Rio Piovich and José Antonio Colomer Guiu. José Carlos LopezAlvarez, meanwhile, replaced Antonio Alcalde Fernandez Loza as an alternate.

Inthe same meeting, the board approved a capital increase totaling 617.22 millionPeruvian soles through the capitalization of 2015 profits, and the distributionof dividends totaling the same amount. It also agreed to increase its legalreserve by 137.16 million soles.

As of March 31, US$1 wasworth 3.36 Peruvian soles.