National bank temporarily bans payment of dividends to banks


The National Bank Council decided Friday to temporarily limit the distribution and payment of dividends to bank shareholders. This decision also applies to savings banks, said the Central Bank of Macedonia.

As announced by the National Bank, the decision was made due to the uncertainty of the coronacrisis. The measure is temporary, and is preventive, in order to further increase the resilience of the banking system and maintain stability, in conditions of uncertainty about the further course of the health crisis.

The Council assesses that as in the past period, the latest data show that the banking system successfully maintains its stability, with loans continuing to grow and banks’ capital positions being stable.

The decision will be made by the end of this year, and the National Bank will re-evaluate the circumstances of the pandemic due to which the decision was made by September 30 at the latest. Depending on the assessment, the National Bank may prematurely lift the restriction from this decision.

Due to the uncertainty caused by the health crisis, the National Bank expects banks to continue to carefully plan their capital needs and to give priority to the preservation and further strengthening of the capital resources.

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