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Itau Corpbanca likely to pay dividends close to zero after impairment

SAO PAULO (Reuters) - Chile's Itau Corpbanca ITAUCORP.SN is unlikely to post a profit or pay dividends in 2020 after taking a $930 million impairment charge, its chief executive, Gabriel Moura, said on Friday.The bank disclosed the charge on Thursday, saying it reflected the new fair value of cash generation for units in Chile and…

Fed stops big banks from buying back stock, paying dividends

NEW YORK (AP) — A worst-case scenario for the U.S. economy ravaged by the coronavirus pandemic would cause the nation’s 34 largest banks to collectively lose roughly $700 billion, the Federal Reserve said Thursday.To bolster the banks ahead of such a potentially damaging recession, the Fed ordered them to suspend buybacks of their own stock…