SOFIA (Bulgaria), March 14 (SeeNews) – Bulgarian bank UniCredit Bulbank, part of the Italian UniCredit group, plans to distribute as a dividend all of its profit of 313.8 million leva (175.7 million dollars/160.4 million euros) reported for the last year, local media reported Monday.
A decision on the payment of the proposed dividend will be voted on at a shareholders’ meeting scheduled for April 7 and is also subject to central bank regulatory approval, Capital.bg reported.
Last year, UniCredit Bulbank announced that it would reinvest all of its profits for 2020, amounting to 224 million levs, into its capital. The shareholders decided not to distribute the profits of the bank in accordance with the instructions of the National Bank of Bulgaria (NBB).
In February 2022, the BNB lifted the dividend distribution ban it had imposed at the start of the coronavirus pandemic in 2020. The central bank, however, said it would require lenders to “submit distribution plans that will be the subject of a prudential dialogue”, Noted capital.
UniCredit Group holds a stake of approximately 99.5% in the capital of UniCredit Bulbank.
UniCredit Bulbank was the largest lender by assets among 25 banks and branches of foreign banks in Bulgaria at the end of January, according to the latest available BNB data.
(1 euro = 1.95583 levs)
UniCredit Bulbank AD is among the biggest banks in SEE, for more reference take a look at top 100 banks