Profil:
SANTANDER BANK POLSKASantander BP bank meets KNF conditions for dividend payout at up to 100% profit for 2022; recommended to hold payout till CJEU verdict
Bank Santander BP received a confirmation from the financial market regulator KNF that it met the requirements to pay out 100% of its net profit for 2022 in the form of a dividend and is recommended to hold the payout till CJEU ruling on CHF loans, the bank said in a market filing.
Santander BP received an individual recommendation from the KNF regulator with regard to the Bank's dividend policy.
"The KNF stated that based on data as at 31 December 2022, the Bank met all the key dividend policy criteria to be able to pay dividends up to 100% of its net profit earned in the period from 1 January 2022 to 31 December 2022," the filing reads.
At the same time the bank has been advised not to pay dividend from 2022 profit "until the EU Court of Justice
issues its decision with regard to the reimbursement of additional costs" related to CHF loan agreements "invalidated on grounds of unfair clauses."
On February 16, a CJEU advocate general opined that Polish banks cannot seek additional remuneration from FX loan clients after a given loan is declared null and void due to unfair terms. CJEU ruling on the issue is expected in several months.
jz/