Achmea Bank N.V. has decided to suspend dividend distributions to its shareholder until there is greater clarity regarding the impact of the coronavirus. By taking this action, the company follows the call from the European Central Bank (ECB) and the Dutch Central Bank (DNB). In the second half of 2020, Achmea Bank will determine if a distribution on the shares can still be made, based on developments related to the coronavirus and the financial position.
The ECB and DNB have recently urged banks to maintain their financial buffers and to refrain from dividend distributions at this moment. This is because the impact of the coronavirus on the economy is significant and the scale and duration of the crisis are still uncertain.
Although Achmea Bank's solvency and liquidity position is robust, Achmea Bank has decided to follow the ECB's and DNB's call to suspend the dividend payment until further notice.
Achmea Bank’s Annual General Meeting will be held shortly. In this meeting, it will be proposed to add the 2019 profit to the reserves.