The Polish Financial Supervision Authority (KNF) has told Getin Holding to lower the dividend payment planned by its Noble Bank. On March 2, Noble informed investors that it would give a dividend of almost zł.99 million out of the zł.164.6 million profit it posted in 2008. This would have translated into zł.0.46 per share.

However, the move would have run counter to the KNF’s recommendation for banks to strengthen their capital rather than share profits.

Last Thursday, Getin Holding announced in a statement that it had changed its previous decision. “In accordance with the letter received yesterday from the KNF … [Getin Holding], intends to vote in favor of lowering the planned level of dividend from zł.99 million to zł.45.2 million,” the statement read.