Notes to the consolidated financial statements
17. Distribution of profit
In 2015 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 15 April 2015, the Bank’s net profit for 2014 of PLN 48,557,877.55 was allocated to:
- PLN 42,557,877.55 to the reserve capital;
- PLN 6,000,000.00 to the general risk reserve.
The Management Board of the Bank recommended allocating the entire net profit for 2015 to reserve capital and general risk fund of the Bank to the General Shareholders’ Meeting.