WARSAW: Poland’s largest bank by assets PKO BP recommends no dividend payment from 2014 profit, with PLN 1.9 billion earmarked as retained capital, PLN 1.25 billion as unallocated and PLN 62.26 million as reserve capital, the bank said in a market filing.
The announcement follows an early April statement by the bank that it would adhere to a regulatory call to retain 2014 profits. PKO BP is one of several banks with notable CHF-mortgage books to which the Financial Market Authority (KNF) has determined to set individual dividend recommendations until new risk weightings for FX-mortgages can be set. The KNF recommended profit retention at PKO BP on March 31.
At that time, PKO BP also said it had amended its dividend policy and will now eye payouts from surplus over CAR at or above 12.5 and Tier 1 ratio at least 12%, the bank said citing new rules on internal capital management.
