May 5, 2020 / 7:00 AM / 2 months ago

MONETA Money Bank confident will renew dividends as quickly as possible -CEO

PRAGUE, May 5 (Reuters) - Czech lender MONETA Money Bank aims to get back to paying dividends as quickly as possible after suspending its policy amid the coronavirus outbreak, Chief Executive Tomas Spurny said on Tuesday.

The bank reported on Tuesday first-quarter net profit of 731 million crowns ($29.55 million), down from 983 million a year earlier. It said the reinstatement of its dividend policy would be reviewed in the third quarter.

“As long as we continue to be profitable, as long as we have enough liquidity, and as long as we are above our target capital adequacy ratio... we will engage in a discussion with the regulator to allow us to pay a dividend as quickly as possible,” Spurny said.

“We are confident that we will be able to meet all the criteria and we will come back to dividend payout as quickly as possible.” ($1 = 24.7400 Czech crowns) (Reporting by Jason Hovet)

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