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UBB closed 2008 with a pre-tax profit of BGN 217.1 million

Article published from on 2009-07-23 04:30:00
Category: Finances in Bulgaria

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 commented.
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