Eurasian Bank Shareholder Allocated 2018 Year Profit to the Bank’s Capital
Press Release, ALMATY, 11 September
The Board of Directors of Eurasian Financial Company, Eurasian Bank’s sole shareholder, approved the Bank’s annual financial statements for 2018, as well as the procedure for distributing annual revenue.
The shareholder decided not to pay 2018 year dividends, but to direct the Bank’s profit in the amount of 11,074,479,000 tenge to retained earnings of previous years.
«The refusal to pay dividends confirms the obligations of the shareholders to support the Bank as part of the program on enhancement of the financial sustainability of the banking system. Reinvesting profits in the reserve capital will allow the Bank to improve the assets quality and focus on successful implementation of its business goals. Improving the capitalization and reserve indicators will undoubtedly give the Bank more comfort in operations and customer work», commented Shukhrat Ibragimov, a member of the Board of Directors.
The financial statements of the Bank, prepared in accordance with the international financial reporting standards, are confirmed by the KPMG Audit company.
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