Expansion / The President of People’s assurance that benefits will again be “reasonable” from 2016, as this year still play provisions.
Angel Ron is clear: the scrip dividend (dividend payment) is a peculiarity of the times of crisis, so it’s back to give back to the investor in cash. In an event organized in Madrid by Europa Press, the president of Banco Popular has said that the bank is given two years later to return the cash dividend and, by then, be paid a payout (percentage of profit that is intended to remunerate shareholders) of around 50% compared to 35% today.
Ron explained that the Spanish banking after years dedicated to strengthening the balance sheet and solvency, have to worry now to regain profitability, something that is complicated both by the environment of low interest rates and high competition, as the new banking regulation increasingly demanding capital. For Popular specified number one in the group, expect 2016 to see “reasonable” profit, as this exercise has yet to prevail prudence. The bank will focus on strengthening provisions, especially during the first quarters of the year. In fact, Ron has advanced to the first-quarter earnings that Popular submit to market next week, stay below 150 million.
The president of People also think that there is room for more mergers, despite the profound restructuring of the sector has already been carried out in Spain. The competitive and economic environment will make the weaker business models can not survive alone.
Ron, asked about the news of the president of Bankia and former Minister of Economy, Rodrigo Rato, said that this cause “has nothing to do with the activity of bankers”
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