August 29, 2013 / 8:53 AM / 4 years ago

PKO CEO says sees little ability to pay special dividend

WARSAW, Aug 29 (Reuters) - Poland’s No.1 bank, the state-controlled PKO BP, has very limited ability to pay a special dividend this year after it bought Swedish Nordea’s local business for 2.83 billion zlotys ($880.45 million), its chief said on Thursday.

“We signed the Nordea buy agreement, which has impacted our capital adequacy ratio in a negative way,” CEO Zbigniew Jagiello said. “This means that the ability to pay a special dividend is very limited.”

Poland has increased the amount it will collect in dividends from state-controlled firms this year by almost one fifth in its latest move to fill a budget gap. ($1 = 3.2142 Polish zlotys) (Reporting by Chris Borowski; Writing by Adrian Krajewski)

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