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Bulgaria's Expressbank lowers 2019 net profit, plans to skip dividend

Author Mario Tanev
Bulgaria's Expressbank lowers 2019 net profit, plans to skip dividend wrangler/Shutterstock.com

SOFIA (Bulgaria), February 21 (SeeNews) - Bulgarian lender Expressbank, part of Hungarian group OTP, said that it booked a net profit of 105.7 million levs ($58.4 million/54 million euro) in 2019.

In 2018, the company reported a non-consolidated net profit of 109.9 million levs.

Expressbank is seeking the approval of its shareholders to skip dividend distribution for 2019, it said earlier this week in an invitation for a shareholders meeting.

The lender's shareholders are scheduled to put the proposal to a vote on March 26.

Expressbank is currently in the process of being absorbed by its majority owner DSK Bank, which completed the acquisition of the majority stake  from France's Societe Generale Group last year.

(1 euro = 1.95583 levs)

 

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