Home GCC Kuwait Kuwait Central Bank allows lenders to distribute 2020 dividends The Kuwait Banking Association said in June that there would be no distribution of dividends to shareholders for 2020 by Bloomberg January 24, 2021 Kuwaiti lenders will be allowed to distribute cash profits based on their 2020 financial results, the Central Bank of Kuwait said on Saturday. “In light of the financial data of Kuwaiti banks, that showed strength and solid levels of capital adequacy, and due to not using their provisions during 2020, they can distribute dividends to shareholders in line with their results and net profits, in a way that doesn’t affect the required capital adequacy,” the bank said in a statement. The Kuwait Banking Association said in June that there would be no distribution of dividends to shareholders for 2020. The decision was taken to enable the banking sector to operate normally and ensure liquidity “until current extraordinary circumstances created by the coronavirus pandemic cease to exist,” state-run KUNA news agency reported at the time, citing the association. Tags central bank dividends Kuwait Lenders Shareholders 0 Comments You might also like Kuwait’s Warba Bank to acquire nearly 33% stake in Gulf Bank Egypt’s net foreign assets decline by $3.25bn in November Kuwait signs contracts worth KD238m to modernise power, water distillation plants Egypt’s headline inflation inches up to 26.4% in September
