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General Shareholders Meeting of International Asset Bank

21 February 2008

    The regular General Shareholders Meeting of International Asset Bank took place on 21 February 2008 in the bank’s head office.
    The Management of the Bank reported the successfully accomplished market oriented restructuring of the bank and the achieved good financial results.
    At the end of 2007 the assets managed by the bank reached BGN 523.3 mio. The asset growth for 2007 in comparison with 2006 35%.
    Profit of the Bank after taxation is BGN 12.9 mio, which is 51% growth in comparison with the profit reported at the end of 2006.
    The return on equity (ROE) is 29,08% and return on assets (ROA) reached 3.20% in comparison with reported at the end of 2006 ROE was 26.84% and ROA was 3.10 %. All these indices show the increased effectiveness of the management of the Bank.
    The General Shareholders Meeting approved the report of the Managing Board and took a decision to distribute the profit, as of BGN 6.6 mio into the Fund Reserves of the Shareholders funds and BGN 6.3 mio will be distributed as dividends among the Shareholders.