May 22 (SeeNews) - Bulgaria's Texim Bank [BUL:5CP] said on Tuesday that it intends to keep its entire net profit in 2017 and allocate the funds to its reserves.
Texim Bank also skipped dividend distribution for 2016.
The company's shareholders will vote on the proposal at a general meeting scheduled for June 22, Texim Bank said in a statement.
Texim Bank's non-consolidated net profit fell to 120,000 levs ($72,300/61,300 euro) in 2017 from 659,000 levs in 2016.
Texim Bank was Bulgaria’s 20-th largest lender by assets at the end of March, according to Bulgarian central bank data.
(1 euro = 1.95583 levs)