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.”
BNP Paribas Fortis (www.bnpparibasfortis.com) offers the Belgian market a comprehensive range of financial services for private individuals, the self-employed, professionals, companies and public organisations. In the insurance sector, BNP Paribas Fortis works closely, as a tied agent, with Belgian market leader AG Insurance. At international level, the Bank also provides high-net-worth individuals, large corporations and public and financial institutions with customised solutions, for which it is able to draw on the know-how and international network of the BNP Paribas Group.
BNP Paribas (www.bnpparibas.com) BNP Paribas is a leading bank in Europe with an international reach. It has a presence in 71 countries, with approximately 199,000 employees, of which more than 151,000 in Europe. The Group has key positions in its three main activities: Domestic Markets and International Financial Services (whose retail-banking networks and financial services are covered by Retail Banking & Services) and Corporate & Institutional Banking, which serves two client franchises: corporate clients and institutional investors. The Group helps all its clients (individuals, community associations, entrepreneurs, SMEs, corporates and institutional clients) to realise their projects through solutions spanning financing, investment, savings and protection insurance. In Europe, the Group has four domestic markets (Belgium, France, Italy and Luxembourg) and BNP Paribas Personal Finance is the European leader in consumer lending.
BNP Paribas is rolling out its integrated retail-banking model in Mediterranean countries, in Turkey, in Eastern Europe and a large network in the western part of the United States. In its Corporate & Institutional Banking and International Financial Services activities, BNP Paribas also enjoys top positions in Europe, a strong presence in the Americas as well as a solid and fast-growing business in Asia-Pacific.
