December 18, 2017 / 2:01 PM / 6 months ago

BRIEF-KNF Recommends PKO Additional Capital Requirement

* SAID ON FRIDAY THAT THE POLISH FINANCIAL SUPERVISION AUTHORITY (KNF) HAS RECOMMENDED THE BANK TO KEEP OWN FUNDS FOR ADDITIONAL CAPITAL REQUIREMENT IN RELATION TO THE RISK RESULTING FROM FX MORTGAGES AT 0.61 P.P. OVER THE AMOUNT OF TOTAL CAPITAL RATIO (TCR)

* IT SHOULD BE COVERED AT LEAST IN 75 PERCENT BY TIER 1 CAPITAL

* THE BANK MEETS THE ABOVE REQUIREMENTS ON BOTH THE STANDALONE AND CONSOLIDATED LEVELS

* THE REGULATOR HAS ALSO INFORMED ABOUT THE ADDITIONAL ADD-ON FOR PKO BP IN THE AMOUNT OF 2.86 P.P.

* THE ADD ON IS USED IN THE COMMERCIAL BANKS’ DIVIDEND POLICY, MEASURING THE BANK’S SENSITIVITY TO AN UNFAVORABLE MACROECONOMIC SCENARIO

* THE BANK HAS ALSO SAID THAT, ACCORDING TO ITS DATA AS OF SEPT. 30, IT MEETS ALL CRITERIA FOR PAYING OUT 75 PERCENT OF PROFITS IN DIVIDENDS FOR FY 2017, BEFORE FX CRITERIA

Source text for Eikon:

Further company coverage: (Gdynia Newsroom)

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