The bank paid no dividend last year.

The bank also said it planned a further increase of capital by up to 50 percent with a new share issue over the next five years. It said the proceeds will be used to ensure capital adequacy of the bank.

The dividend payment and the capital hike have to be confirmed at a shareholder meeting on July 22.

The bank, which has market capitalisation of 288 million euros ($413 million), in March, reported a 2010 net profit of 11.4 million euros in 2010, down from 12.9 million in 2009.

Copyright Reuters, 2011