Notes to the consolidated financial statements

17. Distribution of profit

In 2014 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
14 April 2014, the Bank’s profit for 2013 of PLN 36,870,353.25 was allocated to:

• covering a prior year loss related to adjustment of the opening balance for 2013 in the amount of PLN 11,841,415.02;
• reserve capital of PLN 23,028,938.23;
• general risk reserve of PLN 2,000,000.00.

The Management Board of the Bank recommended allocating the entire net profit for 2014 to reserve capital and general risk fund of the Bank to the General Shareholders’ Meeting