IBTD KEPT ITS PROFIT AS RESERVES
The total profit of BGL220,000 of the International Bank for Trade and Development (IBTD) will be referred to the credit institution's reseves fund. The decisions was voted by the shareholders at the General Assembly which took place on April 24, 2001.
They voted the report of the Board of Directors for their activities in 2000 and released them from responsibility for that period. The General Assembly approved also IBTD's annual accounting report, and selected Bul Audit as 2001 chartered accountant. No changes of IBTD Board of Directors were voted, although that was one of the items of the agenda. Plamen Bonev, Chairman, and the executive directors Boyan Penkov, Alexander Alexandrov and Atanas Radev remain as members of the Board. Krassimira Vassileva and Iliya Karanashev left the Board in accordance with the vote of the former General Assembly which took place on February 28, 2001.
As at the end of 2000 IBTD balance sheet value amounts to BGL44.257MN. Compared to 1999 this is an increase by 20%. The bank has launched credits to companies and individuals amounting to BGL16.180MN, which is 76% increase compared to 1999. IBTD's net worth amounts to BGL13.362MN, and the shareholders capital - to BGL13MN.