Regional Development Bank will direct profits to repay losses and to the reserve fund

UFA, 27 April 2015. /Bashinform News Agency, Elvira Latypova/. Dividends on shares of Ufa JSC "Regional Development Bank" will not be paid following the results of work in 2014. The appropriate recommendations to the annual meeting of shareholders were adopted by the bank's board of directors at a meeting on April 24. The shareholders' meeting is scheduled for June 8.

The shareholders are recommended to direct 92.4 million rubles of profit to repay the uncovered losses of previous years, 32.5 million rubles - to the reserve fund. The remaining profit of 205 million rubles will be retained by the bank.

JSC "Regional Development Bank" (Ufa) according to the "Expert RA" is the fourth bank of Bashkortostan with capital assets of 7,85 billion rubles at the beginning of the year.