October 18, 2018 / 12:03 PM / a month ago

Russia may let biggest banks cut dividend payments to budget: Siluanov

MOSCOW, Oct 18 (Reuters) - The Russian government may allow the biggest state-controlled banks to pay less in dividends into the budget and to use the cash to boost their capital instead, Anton Siluanov, first deputy prime minister, told reporters.

Siluanov, also the finance minister, said that idea, if implemented, would apply to so-called systematically important banks - which include the biggest two lenders Sberbank and VTB - who are required by the central bank to have higher capital due to their size.

He did not provide other details on the dividend proposal, including on how much in dividends they would be required to pay to the budget. (Reporting by Darya Korsunskaya Writing by Katya Golubkova Editing by Christian Lowe)

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