June 5 (SeeNews) - North Macedonia-based lender Stopanska Banka Bitola [MSE:SBT] said that its shareholders have approved the management's proposal to skip dividend distribution for 2018, and retain the entire profit for the year, of 34.4 million denars ($637,000/559,000 euro).
The company also skipped dividend distribution for 2017.
Stopanska Banka Bitola shareholders approved the proposal at a general meeting held on May 29, the lender said in a bourse filing last week.
The bank's net profit fell to 34.4 million denars in 2018 from 43.0 million denars in 2017.
(1 euro = 61.49 denars)