Announcement of proposed amendment of the articles of association
29 March 2019
For the purpose of qualifying its share capital as Common Equity Tier 1 (CET1) capital, the bank must be completely free as to whether or not pay dividend to its shareholders.
In the opinion of the European Banking Authority (EBA), the bank does not yet fully comply with this provision from Article 28 of the Capital Requirements Regulation (CRR). To fully comply with the CRR, the bank wants to delete article 20, paragraphs 3, 4 and 5 of the current articles of association and instead lay down in the articles of association that the Executive Board (after approval by the Supervisory Board) is competent with regard to profit appropriation. If the General Meeting of Shareholders on April 18 approves the proposal to amend the articles of association, the change will be formally implemented on May 15, 2019. The amended articles of association will be published on the bank's website on that date.