Bloomberg News

Handlowy to Obey Polish Watchdog’s Dividend Cap, Parkiet Reports

January 02, 2012

Dec. 31 (Bloomberg) -- Bank Handlowy w Warszawie SA is reviewing its dividend policy and will obey a recommendation by Poland’s financial-markets regulator to cap any payout at 50 percent of 2011 net income, Chief Executive Officer Slawomir Sikora was quoted today as saying by Parkiet.

The Polish unit of Citigroup Inc. is interested in several projects to repackage local mortgages denominated in foreign currencies as bonds targeted at institutional and retail investors, similar to German mortgage-backed securities, the newspaper quoted Sikora as saying.

“I think 2012 will be the breakthrough year due to buyer interest in such securitized loan portfolios,” Sikora said, according to Parkiet.

To contact the editor responsible for this story: David McQuaid at dmcquaid1@bloomberg.net


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