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SOFIA (Bulgaria), September 16 (SeeNews) - Bulgaria's Central Cooperative Bank (CCB) [BUL:4CF] said that its shareholders have approved the company's plan to skip dividend distribution for 2018 and allocate its profit for the year to its reserve fund.
CCB shareholders adopted the decision at a general meeting held on September 12, the company said in a statement on Friday.
The lender's non-consolidated net profit fell to 33 million levs ($19.1 million/16.9 million euro) in 2018 from 36.8 million levs the year before.
CCB was Bulgaria's eight largest lender by assets at the end of June, according to central bank data.
(1 euro = 1.95583 levs)