Central Bank of Kuwait: Banks can distribute cash dividends for 2020

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The Central Bank of Kuwait said today, Saturday, that Kuwaiti banks “are able to distribute cash dividends to their shareholders” for the year 2020, in proportion to the results of their business and the net profit achieved in this year, deciding by this a misconception that had erupted since the beginning of the Corona crisis in the country about the impact of the pandemic on the results of Kuwaiti banks.

The Central Bank of Kuwait added in a press release that this dividend distribution would be conditional on not affecting the required capital adequacy of banks.

He stated that this step came “in light of what Kuwaiti banks’ financial statements have shown of the strength and durability of their capital adequacy levels, and that banks have not used the capital precautionary buffer during the year 2020. “





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