Encouragement Bank's 2007 Profit Tops 5 Mln leva

Encouragement Bank's 2007 profit stood at 5.014 mln leva (2.56 mln euros) before taxes, was stated at the bank's general meeting of shareholders. The result is 40.33% up from last year when it came to 3.573 mln leva (1.82 mln euros).

Shareholders decided to allocate 4.504 mln leva (2.3 mln euros) of the profit as follows – 50% for dividend distribution and 50% to the Additional Reserves.

Credits given by the bank last year amounted to 131.581 mln leva (67.27 mln euros), compared with 67.205 mln leva (34.36 mln euros) in 2006, which is a hike of almost 100%.

Assets rose by 110.83% to 232.949 mln leva (119 mln euros), versus 110.49 mln leva (56.4 mln euros) a year ago.

The bank's issued capital rose 36.72% to 53.652 mln leva (27.4 mln euros) last year, versus 39.241 mln leva (20 mln euros) in 2006.