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Poland's PKO says meets criteria to spend up to 50 pct on dividend
December 7, 2016 / 1:40 PM / 10 months ago

Poland's PKO says meets criteria to spend up to 50 pct on dividend

WARSAW, Dec 7 (Reuters) -

* Poland’s biggest bank, state-run PKO BP said on Wednesday it fulfils all the criteria set by financial market regulator KNF for a bank to spend 50 percent of its annual profit on dividend.

* KNF imposed more restrictions on dividend payouts by banks with foreign exchange loan portfolios to help them boost their capital and tackle potential legal risks related to converting Swiss franc mortgages, it said on Tuesday.

* KNF specified financial criteria that has to be met by a bank to pay out up to 50 percent and more measures to be able to pay up to 100 percent.

* “PKO fulfils all the above described criteria allowing for the dividend payment for 2016 of up to 50 percent of net profit,” the bank said. Source text for Eikon:

Reporting by Agnieszka Barteczko; editing by Jason Neely

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