Profil:
PKO BP SAPKO BP lender meets requirements to pay dividend of up to 75 pct of 2024 profit
Poland's largest lender by assets PKO BP has received an individual recommendation from Poland's financial watchdog KNF confirming that the bank meets the requirements to pay dividends of up to 75 percent of its 2024 profit, the bank said in a market filing.
It also indicated that the maximum amount of the payout cannot exceed the amount of the annual profit net of profit earned in 2024 which has already been recognised as own funds.
"The bank has included the net profit earned in the first half of 2024 in the amount of PLN 1,549,571,366 at the stand-alone level and in the amount of PLN 1,299,076,120 at the consolidated level into own funds," the filing said.
"Net profit at the individual level for 2024 amounted to PLN 9.150 billion and at the consolidated level to PLN 9.304 billion," the market filing said.
It was further indicated that the KNF advised the bank to mitigate the risks inherent in its operations by not undertaking, without prior consultation with the supervisory authority, other actions, in particular those outside the scope of its current business and operational activities, which could result in a reduction of its own funds, including possible dividend payments from retained earnings and repurchases or buybacks of own shares.
mcb/ han/