Log in
Show password
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Dynamic quotes 
News: Latest News
Latest NewsCompaniesMarketsEconomy & ForexCommoditiesInterest RatesBusiness LeadersFinance Pro.CalendarSectors 
All NewsEconomyCurrencies & ForexEconomic EventsCryptocurrenciesCybersecurityPress Releases

Norway Says Banks Can Resume Normal Shareholder Payouts Next Month

09/07/2021 | 09:31am EDT

By Dominic Chopping

Norway's Ministry of Finance said Tuesday that as uncertainty surrounding the economic outlook has abated, banks in the country can resume shareholder payouts as they normally would, from next month.

Although not an outright ban, the ministry said last year that it expected Norwegian financial firms to wait with shareholder distributions due to uncertainty amid the outbreak of Covid-19. Updating guidance earlier this year, it said that banks should remain reluctant to distribute dividends until after Sept. 30, in line with a recommendation made by the European Systemic Risk Board.

"The economic outlook is significantly improved," Norway's Finance Minister Jan Tore Sanner said.

"Going forward, the banks should therefore be able to distribute profits in accordance with the regular legal framework."

The European Systemic Risk Board will soon decide whether to adopt a new recommendation on banks' profit distributions after Sept. 30. If and when it is adopted, the ministry said it will assess the possible new ESRB recommendation.

Write to Dominic Chopping at dominic.chopping@wsj.com

(END) Dow Jones Newswires

09-07-21 0930ET

Stocks mentioned in the article
ChangeLast1st jan.
BANK NORWEGIAN ASA 0.29% 104.9 Real-time Quote.42.99%
DNB ASA 0.62% 211.9 Real-time Quote.25.36%
SPAR NORD BANK A/S 0.00% 82.4 Delayed Quote.37.79%
SPAREBANK 1 HELGELAND 0.00% 127 Real-time Quote.48.63%
SPAREBANK 1 NORD-NORGE 2.71% 102.2 Real-time Quote.33.38%
SPAREBANK 1 NORDVEST 0.00% 127 Real-time Quote.9.48%
SPAREBANK 1 RINGERIKE HADELAND 1.28% 316 Real-time Quote.31.09%
SPAREBANK 1 SMN 1.69% 144.2 Real-time Quote.45.29%
SPAREBANK 1 SR-BANK ASA -0.08% 129 Real-time Quote.41.87%
SPAREBANK 1 SØRØST-NORGE 1.82% 55.8 Real-time Quote.0.00%
SPAREBANK 1 ØSTFOLD AKERSHUS 1.89% 324 Real-time Quote.20.45%
SPAREBANK 1 ØSTLANDET -0.43% 138.4 Real-time Quote.42.13%
SPAREBANK 68° NORD 0.00% 170 Real-time Quote.0.00%
SPAREBANKEN MØRE 2.19% 420 Real-time Quote.38.85%
SPAREBANKEN SØR 0.70% 143 Real-time Quote.24.02%
SPAREBANKEN VEST -0.52% 96.2 Real-time Quote.33.56%
SPAREBANKEN ØST -1.43% 55 Real-time Quote.8.56%
SPAREKASSEN SJÆLLAND-FYN A/S -1.08% 138 Delayed Quote.55.00%
STOREBRAND ASA -0.34% 88.26 Real-time Quote.37.94%
Latest news "Economy & Forex"
12:20pS&P 500, Dow near record highs on solid forecasts from healthcare firms
12:10pRussian inflation climbs to 7.78%, highest since February 2016
12:08pOil rises modestly as U.S. crude stockpiles dwindle
12:07pBookrunner of uk's second green gilt sale via syndication says sale is expected to take place on thursday
11:52aBitcoin notches record high, day after U.S. ETF debut
11:51aSpot silver rises 3%
11:50aSanofi in cdc presentation says study results demonstrate that its flu vaccine & moderna's covid-19 vaccine can be administered safely, supporting existing co-administration recommendations
11:48aCHINA EVERGRANDE : Evergrande's $2.6 billion unit stake sale fails as Chinese officials seek to calm nerves
11:40aU.S. takes aim at China's 'unfair trade practices' at WTO review
11:38aSterling moves towards recent highs after inflation reading
Latest news "Economy & Forex"