BULBANK SUPERVISORY BOARD TO HAVE A NEW CHAIRMAN
Andrea Moneta is the new member of the BULBANK Supervisory Board. A stake of 85.19% of the bank's capital is owned by UniCredito Italiano. Mr. Moneta was chosen by the shareholders of BULBANK on an extraordinary general meeting held on September 29. He takes the post from Paolo Fiorentino who was appointed head of the newly-established Global Banking Services directorate in UniCredito Italiano.The 40-year-old Andrea Moneta is married and has two children. He has been working for UniCredito Italiano as a finance manager responsible for the liquidity and capital markets since 2000. Since 2002 he has been directing the Assets Management directorate of the Italian bank. A year later he was appointed head of the New Europe directorate which is responsible for managing UniCredito subsidiaries in countries in Central and Eastern Europe.Andrea Moneta is going to be proposed for Chairman of the BULBANK Supervisory Board at the board's meeting on October 7. The general assembly of BULBANK decided to transfer to the Reserve Fund the retained profit from past years which amounts to BGN111MN. The shareholders decided that the highest dividend which is to be distributed in the next three years should not exceed 70% of the profit of the bank. They also approved a project to expand the activities of the fund providing financial support to bank officers with serious illnesses and to make it a Social Responsibility Fund. The new body will support projects in the field of education, healthcare, social benefits, ecology, etc. However, BULBANK managers did not agree to announce what amounts the fund has already accumulated.