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SOFIA (Bulgaria), April 18 (SeeNews) - Sofia-based Bulgarian-American Credit Bank (BACB) said that it is planning to skip dividend distribution for last year and allocate its net profit to its reserve fund.
The bank's shareholders will vote on the proposal at a general meeting scheduled for June 5, BACB said on Wednesday in an invitation for the meeting.
BACB's net profit rose to 12.3 million levs ($7.1 million/6.3 million euro) in 2018 from 7.8 million levs in 2017.
(1 euro = 1.95583 levs)