PRAGUE, April 7 Shares in Moneta Money Bank
reached a 7-week high on Friday after a shareholder
requested a capital cut which could open way to bigger payouts
Templeton Emerging Markets Group, representing 2.1 percent
stake in Moneta, has asked for Tier 1 capital of the bank to be
reduced to 15.5 percent from the 20.5 percent reported in 2016.
Templeton said in a statement it called for "distribution of
unutilized capital in the form of share buyback and/or cash
Moneta has its own Tier 1 target at the same 15.5-percent
level, and it has proposed a dividend of 5 billion crowns
($199.69 million), or 123 percent of 2016 profit, to address the
issue of excessive capital.
Its shares were up 0.3 percent at 88 crowns at 0920 GMT,
their highest level since February 13.
($1 = 25.0390 Czech crowns)
(Reporting by Robert Muller; Editing by Jan Lopatka)