Some of the U.K.’s biggest lenders have agreed to scrap billions of pounds of payments to shareholders following pressure from the Bank of England (BOE).
Barclays, Santander, Lloyds, NatWest, Standard Chartered and HSBC confirmed late on Tuesday that they will not be paying out dividends in 2020, after the central bank’s Prudential Regulatory Authority (PRA) urged British commercial banks to preserve capital in order to help support the economy during the likely recession arising from the coronavirus pandemic.
