March 31 (SeeNews) - North Macedonia's Komercijalna Banka [MSE:KMB] said it plans to distribute a dividend for 2019 despite the central bank's expectations that local lenders would refrain from paying dividends amid the coronavirus crisis.
The management and supervisory boards of Komercijalna Banka believe that the bank should stick to its proposal to shareholders to allocate 553 million denars ($9.89 million/9.01 million euro) of undistributed profit to reserves and pay out 1.25 billion denars as dividend, the lender said in a statement on Monday.
The lender plans to distribute a gross dividend of 550 denars per share for 2019 after the end of the state of emergency declared in the country due to the coronavirus.
Komercijalna Banka added that it has been allocating a significant part of its profits to reserves and increasing its capital, which makes it ready to face the expected movements and consequences on the economy and the population, as well as to meet all legal and supervisory requirements, and remain liquid and solvent.
(1 euro = 61.3689 denars)
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