Decision will enable further support to the economy, amounting to eight billion euros
Lisbon, 03 April 2020.
Following the recommendations issued by the European Central Bank and contacts with the Bank of Portugal, Santander Totta will not distribute the dividend scheduled for May against 2019 results.
Even though the bank comfortably meets the capital ratios demanded by the European Central Bank (Core equity Tier 1 (CET1) ratio higher than the requirement by more than 5 pp), this decision enables Santander to further reinforce its capacity to offer credit to the Portuguese economy in the current circumstances, by around eight billion euros.
The bank's resolution follows from a series of decisions taken in recent weeks to support its customers and the Portuguese economy which transcend the limits of the current legal framework. In addition to reinforcing its publicising, promotion and supply of the three-billion euro aid facilities for businesses announced by the Portuguese government, Santander Totta is offering its individual and corporate customers loan moratium and renegotiation solutions due to temporary liquidity restrictions which far exceed the solutions demanded by Portugal's current legal framework. These solutions can be accessed simply and quickly from the bank's home banking service (santandertotta.pt) and were offered before the government drew up a legal framework for the state moratium on corporate and household credit.