Current Report no. 4 (2020)
Polish Financial Supervision Authority individual recommendation regarding increasing the own funds
Management Board of Santander Bank Polska S.A. ("the Bank"), in relation to the current report no. 42/2019 dated 24th December 2019, informs the Bank received the individual recommendation of Polish Financial Supervision Authority ("PFSA") dated 9th March 2020 regarding increasing the own funds of the Bank by retaining at least 50% of the net profit for the period from 1st January 2019 to 31st December 2019 ("the Recommendation").
In Recommendation the PFSA confirms that as at 31st December 2019 the Bank meets the criteria to pay a dividend up to 100% of the Bank's net profit for the period from 1st January 2019 to 31st December 2019. After applying additional criteria regarding significant exposure arising from foreign currency home loans the dividend rate is adjusted by 50 p.p. As a consequence, the maximum dividend rate, after applying additional criteria, can reach up to 50% of profit for 2019.
Art. 17 clause 1 of MAR.