Banks should halt 2020 dividend payments to preserve capital and keep lending to businesses and households until the impact of the coronavirus epidemic is clearer, the European Banking Federation said.
The EBF said the European banking sector remained"fully committed" to helping businesses and households cope with the fallout from the health crisis and it would prioritize solvency in order to be able to fund the economy.Most banks acknowledge paying 2020 dividends may be unlikely. However many are wary of pulling payouts for 2019 they had already told investors would be coming, setting up a potential battle if governments try to push them to.
"Banks should be prudent when deciding about dividends and have a forward-looking view on risks to avoid a situation where capital needs would arise," an ECB spokeswoman said on Friday. Germany's Commerzbank said it was considering its 2019 dividend."We are looking at it and will decide responsibly," it said. Germany's Aareal Bank is also considering its dividend.
Please do publish some positive stories from Indian stock market also...
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Singapore Latest News, Singapore Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Live: SG Resilience Budget 2020Deputy Prime Minister and Finance Minister Heng Swee Keat will be delivering the Government’s second stimulus package in response to the Covid-19 pandemic on Thursday (March 26) afternoon.
Source: TODAYonline - 🏆 1. / 99 Read more »
Will Supplementary Budget 2020 top the S$20.5 billion Resilience Package in Budget 2009?Economists have tipped that the Supplementary Budget to be presented today (March 26) will roll out a rescue package in the region of S$14 billion to S$20 billion to save jobs and businesses hit by the mounting fallout of the coronavirus outbreak. Read more at The Business Times.
Source: BusinessTimes - 🏆 15. / 51 Read more »
Tennis: Wimbledon to hold 'emergency meeting' next week on 2020 tournamentLONDON (AFP) - Wimbledon could be postponed after All England Club chiefs called an 'emergency meeting' for next week to discuss whether to go ahead with this year's tournament amid the coronavirus outbreak.. Read more at straitstimes.com.
Source: The Straits Times - 🏆 8. / 63 Read more »
Oil majors slash 2020 spending 18per cent after prices slumpThe world's biggest oil and gas companies are slashing spending this year following a collapse in oil prices driven by a slump in demand because ... Rt
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
Caterpillar halts operations at certain facilities, withdraws 2020 outlookConstruction and mining equipment maker Caterpillar Inc said on Thursday it was suspending operations at certain facilities and withdrawing its ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
Tonys Postponed: 2020 Show Delayed as Coronavirus Outbreak Keeps Broadway Shuttered'The health and safety of the Broadway community, artists and fans is of the utmost importance to us,' a representative for the Tony Awards told PEOPLE in a statement
Source: YahooSG - 🏆 3. / 71 Read more »