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ING's Polish unit updates dividend policy

ING Groep NV unit ING Bank Slaski SA said March 9 that it had updated its dividend policy to take into account capital requirements set by the Polish Financial Supervision Authority.

As conditions necessary for a dividend payout, the Polish lender decreased the minimum Tier 1 ratio required to 12.875% from 13.75% and introduced a minimum total capital ratio requirement of 14.875%.

The bank said earlier in March that its management board intends to ask shareholders to approve a gross per-share dividend payment of 3.2 Polish zlotys from the lender's 2017 net profit.

As of March 9, US$1 was equivalent to 3.40 Polish zlotys.