BNP Paribas Fortis confirms its commitment and continuous support to the Belgian economy and withdraws dividend over 2019 profit
Thursday April 2, 2020, the Board of Directors of BNP Paribas Fortis SA/NV unanimously decided to:
- withdraw its intention, communicated via press release issued March 13, 2020, to propose the distribution of a dividend of EUR 3.53 per share to the General Shareholders’ Meeting of 23 April 2020.
- propose to the General Shareholders’ Meeting of April 23 not to distribute a dividend and to reassess the situation in October of this year.
Solid financial structure
BNP Paribas Fortis achieved overall good results in 2019 with a net income of EUR 2,212 million. At 31 December 2019, BNP Paribas Fortis’ Common Equity Tier 1 ratio stood - considering that no dividend will be distributed - at 15.1%[1], well above the regulatory requirements . The Bank’s Liquidity Coverage Ratio (LCR) stood at 127%.
Max Jadot, CEO: “BNP Paribas Fortis has a solid financial structure and is committed to the Belgian Economy. In 2019 customer loans stood at 111bn EUR. As market leader in Belgium, we have played a frontrunner role in the establishment of the coordinated and ambitious plan to assist households and companies in Belgium during the corona crisis. It goes without saying that we are ready and sufficiently capitalized to take on our role and honour our responsibilities as largest bank of our country to ensure that companies and households in scope of this plan will get additional financial oxygen.”
