CRZBY - ECB loosens ban on bank dividends

The European Central Bank is easing its ban on banks paying out part of their 2019-2020 profits to shareholders if they have enough capital."The ECB expects dividends and share buybacks to remain 15% of cumulated profit for 2019-20 and not higher than 20 basis points of the Common Equity Tier 1 ratio, whichever is lower," the ECB said.The recommendation remains until September, Reuters reports.The central bank first asked European banks in March to refrain from paying dividends until October in an effort to preserve cash for lending as the pandemic roiled financial markets.ETFs: [[EUFN]]European bank tickers: Deutsche Bank ([[DB]] +2.6%), Banco Santander ([[SAN]] +3.5%), ING Group ([[ING]] +2.3%), Commerzbank ([[CRZBY]] +4.1%), BNP Paribas ([[BNPQF]] +1.8%), Credit Agricole ([[CRARF]]).

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ECB loosens ban on bank dividends