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Report: Santander's Polish unit to stop financing coal-based projects

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Report: Santander's Polish unit to stop financing coal-based projects

Santander Bank Polska SA will stop financing the construction of new coal mines and new coal-fired power units, news agency PAP reported May 16.

CEO Michał Gajewski also said the bank would reduce its total exposure to thermal coal producers by 2030.

Banco Santander SA's revised energy policy is being implemented in all countries where the group is present, and the Polish unit plans to complete work on updating its policy in this area by the end of June, the executive was cited as saying.

Santander Bank Polska also said May 16 that its shareholders approved the allocation of 25% of the lender's 2018 profit, as well as its undivided profits from 2016 and 2017 for dividend payouts, with the per-share dividend amounting to 19.72 Polish zlotys.

The dividend registration date is May 30, and the payment will take place June 14.

As of May 15, US$1 was equivalent to 3.84 Polish zlotys.