Corporate Commercial Bank Allocates 2007 Profit to Reserves

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Corporate Commercial Bank Allocates 2007 Profit to Reserves

The shareholders of Corporate Commercial Bank decided at a general meeting held today to allocate the bank's profit for2007 to the Reserves fund, the Bulgarian Stock Exchange (BSE) said.

Corporate Commercial Bank bank booked 23.148 mln leva (11.83 mln euros) net profit last year.
The lender booked 13.42 mln leva (6.86 mln euros) profit as at the end of April 2008, while the balance-sheet value of the assets of the bank stood at 1.59 bln leva (812.9 mln euros).

The bank forecasts 39.24 mln leva (20.06 mln euros) profit for the entire 2008, which would represent an increase of 1.3 mln leva (664,700 euros), compared to the projection in the prospectus for the initial public offering of shares in the bank.

Corporate Commercial Bank sees 57.17 mln leva (29.23 mln euros) profit in 2009. A total of 42,718 shares in the bank changed hands on BSE today at prices ranging between 87.05 and 88.20 leva apiece.

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