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Notes to the consolidated financial statements

17. Distribution of profit

In 2016 and in the comparable period the Bank did not pay out any dividend.

In accordance with the Resolution No. 5 of the Ordinary General Shareholders’ Meeting of Bank Pocztowy S.A. dated 30 June 2016, the Bank’s net profit for 2015 of PLN 37,285,323.89 was allocated in the following manner:

The Management Board of the Bank will recommend allocating the entire net profit for 2016 to general risk fund of the Bank to the General Shareholders’ Meeting.