United Bulgarian Bank
closed 2008 with a pre-tax profit of BGN 217.1 million, which will be all stashed away as reserves, the lender said. The result represents a 5.5% increase on the prior year. The net profit added up to BGN 195.342 million.
UBB`s majority shareholder - the National Bank of Greece - scrapped dividend for a fifth year in a row, pumping the whole profit into the lender`s capital. The move is aimed at providing capital support to firm up the bank`s market positions, UBB