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CBC calls directly supervised banks not to pay dividends amid COVID19 turmoil
CNA - CYPRUS/Nicosia 07/04/2020 13:18


The Central Bank of Cyprus (CBC) with a new recommendation published today calls on directly supervised banks or less significant credit institutions not to pay dividends until October 11, 2020, amid the crisis caused by the coronavirus pandemic.
 
The new recommendation echoes the recommendation issued by the European Central Bank to large eurozone banks directly under its supervision.
 
The CBC recommends to Cypriot smaller banks to refrain from distributing any dividend, to refrain from issuing any irrevocable commitment to distribute dividend in 2019 and 2020 and not to commit to any share buy backs aiming at remunerating shareholders.

(CNA)

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