The board of Banca Comerciala Romana said it would propose to the next shareholder meeting the distribution of dividends at 40% of the last year’s net profit, calculated on IFRS standards, namely 813 mln lei, said Tudor Ciurezu, member of the supervisory council of the bank.
“It will be proposed the allotment of 40% of net profit for dividends, in compliance with the privatization contract, which accounts for 813 million lei”, said Ciurezu, vicepresident of FIC Oltenia.
BCR group reported last year a net profit after taxes and payment of minority interests of 2.03 bln lei (541 mln euros), driven mainly by the sale of stake in Asiban, Banca Italo-Romena and insurance activities.
BCR’s total assets rose by 9% last year, up to 69.08 bln lei on December 2008, from 63.36 bln lei a year earlier.
BCR’s majority shareholder is Erste Bank with 69.3063% stake of the share capital, while the five financial investment companies hold a combined 30.1175% share.
