Bloomberg News

Sarkozy Asks French Banks to Put Most of Dividends Into Capital

October 27, 2011

Oct. 27 (Bloomberg) -- President Nicolas Sarkozy said he has asked French banks to shift “almost all” of their dividend payments into strengthening their balance sheets and make their bonus practices “normal.”

“We will ask French banks to put almost all of their dividends into capital,” Sarkozy said today on French television. “We will ask for bonus practices to become normal.”

Sarkozy also said he doubts the need to separate investment banks from retail banks.

“I’ve been sceptical of separating deposit banks from investment banks,” he said. “We can be fully confident it the solidity of our banks.”

To contact the reporter on this story: Helene Fouquet in Paris at hfouquet1@bloomberg.net

To contact the editor responsible for this story: Mark Deen at markdeen@bloomberg.net


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