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ING BSK bank to offer no dividend payment from 2016 profits based on KNF recommendation


Bank ING BSK will offer no dividend payment from 2016 profits as the bank received an individual recommendation of a capital increase through retaining all the 2016 profits.

The bank received "a letter from the Polish Financial Supervision Authority regarding the individual recommendation to increase own funds by retaining the entire profit earned by ING Bank Śląski S.A. between 1 January 2016 and 31 December 2016," the bank said.


"Consequently, the Bank Management Board hereby give notice that they intend to recommend that the General Meeting pass a resolution on the allocation of the entire 2016 net profit for the own funds of the Bank," it said.


ING BSK bank last said it would base its dividend policy on 13.75% Tier1 minimum capital requirement as raised by the financial market regulator KNF from the previous level of 13.25%.


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