NIBC provides update on dividend following ECB recommendation related to COVID-19 pandemic

Persbericht -

NIBC has taken notice of the recommendation of the European Central Bank (ECB) to credit institutions under ECB supervision to conserve capital and refrain from making dividend payments and perform share buy-backs until at least 1 October 2020 in order to support the economy in an environment of heightened uncertainty caused by COVID-19. 

NIBC’s annual general meeting will be held as scheduled on 17 April 2020, with the same agenda. However, taking into account the recommendation of the ECB, NIBC has decided to maintain the proposal to declare the dividend for the financial year 2019 but to pay out such dividend in the second half of 2020 and only if in the opinion of the Management and Supervisory Boards of NIBC at such time, payment is feasible and appropriate in light of the impact of COVID-19 on the business.

NIBC has a strong capital position (CET1 ratio of 17.1% at year-end 2019 and 17.7% after inclusion of the retained earnings of the second half of 2019) and a significant buffer above its minimum capital requirements. Given our strong capital and liquidity position and our role in the Dutch economy, NIBC has several measures in place to support clients affected by the COVID-19 virus. Mortgage clients affected by the COVID-19 virus can obtain a three month deferral of interest and principal payments, and for corporate clients that are affected we look on a case by case basis how we can support them through these challenging times.

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