SCB board Approved the dividend payment for the year 20 at 2.30 baht per share, worth 7,818 million baht.

Siam Commercial Bank Board Approved the dividend payment for the year ’63 at the rate of 2.30 baht per share, total value 7,818 million baht.

The Board of Directors of Siam Commercial Bank (SCB) today (18 February 2021) resolved to propose the 2020 Annual General Meeting of Shareholders, which will meet on April 8, 2021, to consider and approve the payment of dividends for the performance of the year. The dividend will be paid to the shareholders who are entitled to receive dividends according to the Company’s Articles of Association, as listed on the date of the list of eligible persons to receive the dividend on April 21, 2021. And the dividend payment is scheduled on May 7, 2021.

This dividend payment totaled 7,818 million baht, representing a dividend payment of 28.1% of the 2020 net profit according to the Bank’s financial statements. Which is the highest rate that the bank can pay according to the Bank of Thailand circular at BOT Fon Sor (23) Wor. 1236/2563 Subject: Dividend Payment Policy to Strengthen Capital Funds for the Risk of Coronavirus Which stipulates that commercial banks in the entire 2020 dividend payout system can not exceed 50% of the net profit of 2020 and must not exceed the dividend payout in 2019 as well, the dividend payout rate shall be calculated from the net profit according to the bank-specific financial statements

In addition, the Bank paid a dividend of 6.25 baht per share, totaling 21,245 million baht, representing a dividend payout rate of 28.1% of the net profit according to the bank-only financial statements or 52.5 percent of the consolidated net profit.

Mr. Manop Sangiambutr, Senior Executive Vice President Chief Executive Officer Financial Group The Siam Commercial Bank said it considered approving a dividend payment for its 2020 operating results at a rate of 2.30 baht per share or totaling 7,818 million baht.

And representing a dividend payout rate of 28.1% of the 2020 net profit according to the Bank’s financial statements. This is in line with the policy framework of the Bank of Thailand (BOT) that requires the bank to pay dividends up to 50% of the net profit.

However, the normal dividend payment policy of Siam Commercial Bank. Will set a framework for paying dividends more than 30%, and when to return to pay dividends normally May have to wait and see the policy from the BOT to determine how to determine, but initially, if the business economy returns And able to control the outbreak of COVID-19 Well and efficiently Expected to be able to return to normal dividend payments soon.

“The dividend payment of 2.30 baht per share is lower than it had been from the previous year at 6.25 baht per share, but it is in line with the BOT’s framework that wants the bank to do so to stabilize and strengthen. Build up capital If looking at the proportion of capital funds to risk assets or BIS

Currently at the level of 18% and is the tier 1 fund at 17%, which is considered to be the normal dividend payout level of the bank policy, but in order to comply with the BOT framework, the payment must be at 2.30 baht per share. Or accounted for 28.1% of net profit last year “

As for business growth goals in 2021, the Bank will continue to focus on helping customers affected by COVID-19. Continuously While lending is aimed at 3-5%, focusing on growth in the quality segment. And the Net Interest Margin (NIM), it will be found that this year will be the year that was affected by the year 2020 with several rate cuts. Therefore set the framework at 3.34% from the previous year at 3.23%

In addition, the bank tries to control expenses. And focus on the growth of the fee income in the part of funds and insurance While the reserve is still done carefully But it can be seen that the previous year the rate of provision for doubtful debts has passed its peak.

Thank you for coming to the nation.

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