BSP remits P20B in advance dividends to aid COVID-19 fight

The Bangko Sentral ng Pilipinas (BSP) remitted P20 billion as advance dividends to the national government on Thursday, March 26.

Despite no longer being mandated by its new charter to remit dividends to the government, the BSP deferred applying this year's dividends for capitalization and instead released the funds to support programs during the enhanced community quarantine due to COVID-19.

The P20 billion constitutes 87% of the estimated total dividends based on the BSP’s unaudited financial statements for 2020.

BSP Governor Benjamin Diokno emphasized the central bank's commitment to supporting government efforts against the pandemic and keeping the economy afloat.