REG - Bank Pekao SA - Recommendation of PFSA reg. suspension of dividend

Bank Polska Kasa Opieki SAAnnouncement

15/01/2021 07:01

RNS Number : 7801L
  
Bank Pekao S.A.
  
14 January 2021
  
 

UNOFFICIAL TRANSLATION
14.01.2021 - Report 3/2021: Recommendation of the Polish Financial Supervision Authority regarding suspension of dividend payment in the first half of 2021
Bank Polska Kasa Opieki Spółka Akcyjna (the "Bank") hereby informs that on January 14, 2021 received the letter containing following recommendations from the Polish Financial Supervision Authority ("PFSA"):
1.   to withhold by the Bank payments of dividend in the first half of 2021 (including undistributed earnings from previous years),
2.   not to undertake by the Bank, in the first half of 2021, without prior consultation with the supervisory authority, other actions beyond the scope of current business and operational activities that may result in a reduction of the capital base, including buyback of own shares.
According to the above letter, the position of the PFSA on the dividend policy of commercial banks in the second half of 2021 will be presented separately following the analysis of the conditions of the banking sector in the first half of the year.
Legal basis: Art. 17 of (1) MAR - inside information

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