SOFIA (Bulgaria), May 12 (SeeNews) - Bulgaria's First Investment Bank, or Fibank, [BUL:FIB] said on Thursday that it plans to skip dividend distribution for 2021, with the management's proposal to be voted by shareholders at a general meeting scheduled for June 16.
Fibank is proposing to allocate its net profit for last year to its general purpose reserve fund, the bank said in a bourse filing.
The lender's standalone net profit increased to 100.2 million levs ($53.1 million/51.2 million euro) in 2021 from 38.9 million levs a year earlier, when it skipped dividend distribution as well.
Shares in Fibank closed 6.25% lower at 1.95 levs on the Bulgarian Stock Exchange on Thursday.
(1 euro = 1.95583 levs)
First Investment Bank AD is among the biggest banks in SEE, for more reference take a look at Top 100 banks