In January, the Polish Financial Supervision Authority recommended Pekao – like other banks – suspend the payment of dividends from profit in the first half of 2021.
‘We believe that we are well positioned to talk to the regulator about the payment of dividends, also for 2020 – said the bank’s vice president Tomasz Kubiak during the press conference.
“Firstly, our Swiss franc portfolio is marginal, […] and secondly, we have a very safe balance sheet and we have created relatively more than the covid write-off sector, so we are much better prepared, even if this slowdown related to covid was to have an impact in the future somehow on the bank’s results”, he added.
The amount of the dividend would be in the upper range specified in the dividend policy at 50-75% net profit. In the strategy published on Monday, Bank Pekao announced that in the years 2021-2024 it would also like to allocate 50-75 percent annually of profits to dividends.
Bank Pekao has announced that it wants to increase its market share in the segment of loans from 7 percent to 10 percent, in the segment of micro-enterprises from 5 %to 8%, and in SMEs from 10%. up to 12 %.