The Supervisory Board of Zagrebačka banka proposes that the entire profit of the Bank for the year 2009, amounting to 1.2 billion kuna, be allocated to retained earnings, Zaba reported via the Zagreb Stock Exchange.
The decision on the use of profit is expected to be made at the assembly of Zagrebačka banka scheduled for April 26. The invitation to the General Assembly was also published today on the Zagreb Stock Exchange, which includes, among other things, a proposal for the decision on employee participation in the profit of Zagrebačka banka earned in 2009. According to the proposal, employees of Zagrebačka banka are granted participation in the profit for 2009 in the amount of 37.4 million kuna. The payment would be made by granting its own ordinary shares, at a price equal to the average cost of their acquisition, and the shares would be distributed among 45 employees.
The Supervisory Board, at a meeting held on March 10, approved the annual financial statements and the consolidated annual financial statements of Zagrebačka banka d.d. for 2009, as well as the annual report on the status of Zagrebačka banka d.d. and its subsidiaries. Zagrebačka banka d.d. achieved a profit after tax of 1.2 billion kuna in the business year that ended on December 31, 2009. Compared to the same period of the previous year, profit decreased by 178 million kuna or 12.8 percent. (H)
