PRIME-TASS. Petrocommerce, the sole shareholder of Ukhtabank, decided not to pay out any dividends for 2008 and leave 2008 net profit of Rub 246 mln as retained earnings, the lending institution’s press service reported.
The shareholder also approved the lender’s annual report for 2008 and accounting records, including the P&L statement. A new 5-member board of directors was elected, as well as the audit committee.
Ukhtabank is a big privately owned lending institution in the Republic of Komi and was established in 1991. The bank’s network comprises 20 branches, 19 of which operate in republican localities and a branch carries on business in Moscow, and 71 ATMs. The lending institution is wholly owned by Petrocommerce. The lender’s charter capital remained unchanged and equals Rub 35 mln.
