The Bulgarian-American Credit Bank (BACB) recently held its annual general meeting of the shareholders, which saw shareholders approve 2016 reports, an Audit Committee statute and changes to the bank’s bylaws.
The shareholders approved the Audited BACB Annual Consolidated Financial Statements of 2016, as well as the full audited version of that report, according to a release from the bank. Shareholders also approved the Audited Consolidated Management Report of BACB for 2016 and the full Annual Management Report for 2016.
BACB put forth a statute of the Audit Committee to incorporate new requirements laid out in the Independent Financial Audit Act, which gained shareholder approval.
Further, shareholders voted to approve amendments and supplements to the bank’s bylaws, which will be sent to the National Bank of Bulgaria for approval and subsequently published in the Commercial Register.
According to the release, the bank will take all necessary actions to secure the approval and publication of the changes to the bylaws. The shareholder also adopted a number of other decisions announced through the meeting’s agenda.