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EBF’s Mustier Said to Gauge Joint Stance on Bank Dividends (3)

March 25, 2020, 4:14 PM

Europe’s top banking lobby is trying to find common ground among lenders in the region on whether to scrap dividends to conserve capital as the coronavirus causes damage across the economy.

UniCredit SpA Chief Executive Officer Jean Pierre Mustier, who currently presides over the European Banking Federation, asked members in a letter for their view on the subject, as calls increase to use capital and accounting relief to keep the economy going, rather than reward investors, according to people familiar with the matter.

Mustier’s letter outlined ways in which the banks can be part of the solution to...

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