De Volksbank follows the recommendation of the ECB to banks to refrain from making dividend payments until at least 1 October 2020
De Volksbank follows the recommendation of the European Central Bank (ECB) to European banks made on 27 March 2020 to, during the COVID-19 pandemic, conserve capital and refrain from paying dividends until at least 1 October 2020.
The earlier announced proposal of dividend payment over 2019 of €165 million will still be put on the agenda of the General Meeting of Shareholders, scheduled for 23 April 2020, but dividend payment will depend on a reassessment once the uncertainties caused by the COVID-19 crisis have disappeared and will in any case not take place before 1 October 2020.
With a Common Equity Tier 1 ratio of 32.6% at year-end 2019, de Volksbank has a solid capital position. In the calculation of the CET1 capital, the proposed dividend over 2019 has already been deducted as per this date.