The Macedonian Central Bank (NBRM) assured commercial banks that its ban on payment of dividends will be temporary and will expire at the end of the year, if not sooner. The move, which also applies to insurance companies, shocked the financial sector and sent bank shares down , but is being justified by NBRM with the need to maintain liquidity.
The decision is of a temporary nature and will last until the end of the year. NBRM will re-evaluate its decisions linked to the pandemic no later than September 30th, the bank said in a press release.
NBRM called on the commercial banks to prudently plan their capital needs and preserve the stability of the banking system, while providing a solid credit base to the consumers and businesses.