LT: Bank of Lithuania to transfer 70% of 2009 profit to state budget.

By bne IntelliNews March 26, 2010
The Bank of Lithuania announced that it would transfer 70% of its 2009 net profit to Lithuanian state budget. The bank earned record profit of LTL 519mn (EUR 150mn), of which LTL 364mn will be transferred. In the end of 2009 a law has been changed that requires the Bank of Lithuania to transfer 70% of its profit, instead of 50% that was required before. The bank?s capital will amount to LTL 1.3bn after the transfer, of which share capital is LTL 200mn, and the rest is reserve.

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