Thai commercial banks asked to suspend interim dividends and share buybacks

 

 

The Bank of Thailand has asked commercial banks to suspend interim dividend payments for this year and to delay share buybacks, in order to maintain strong capital reserves to help businesses when the COVID-19 situation eases.

 

BoT Governor Veerathai Santipraphob explained the rationale, saying that there is still a lot of uncertainty over when the pandemic will end and the severity of its impacts, hence the need to protect financial institutions and the economic system.

 

He said that only some commercial banks pay interim dividends, usually in August, while other banks, which believe they have a strong capital position, buy back their shares from the stock market after the prices fall to a certain level.

 

Full story: https://www.thaipbsworld.com/thai-commercial-banks-asked-to-suspend-interim-dividends-and-share-buybacks/

 

-- © Copyright Thai PBS 2020-06-21

 

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who profits from the plandemic ....  shares plummet, shareholders panic, time to buy back at pennies on the dollar.... satangs on the baht ?

10 hours ago, rooster59 said:

The Bank of Thailand has asked commercial banks to suspend interim dividend payments for this year and to delay share buybacks, in order to maintain strong capital reserves to help businesses when the COVID-19 situation eases.

Oh pretty please keep enough capital. Pretty, pretty please.

Why should they?  As the old adage goes, "Privatize the profits, socialize the losses."  Let the taxpayers pay for the wealth transfers.  The Thai government will bail you all out, so why not transfer as much wealth as possible right now to the stakeholders.  Then let the government give the banks the money to lend to business for a cut of the nationalized loan. 
Lord forbid, we can't be having those stakeholders suffer any losses because of Covid, now can we?  Losses are only for the plebs and little people.  Bankers must never, ever suffer.