Brief: Addiko Bank FY 2021 Profit At EUR 13.6 Mln

Addiko Bank AG

09/03/2022 06:25

March 9 (Reuters) - ADDIKO BANK AG  ADKO.VI :
    * FY PROFIT OF EUR 13.6 MILLION FOR 2021
    * NEW BUSINESS GENERATION STRONGEST IN Q4: UP BY 15% VERSUS
4Q20
    * FY TRANSITIONAL CET1 RATIO IMPROVED TO 22.2%
    * FOR 2022, ADDIKO EXPECTS LOAN GROWTH IN FOCUS AREA OF MORE
THAN
10% AND TOTAL PERFORMING LOANS AT CA. EUR 3.3B
    * NO DIVIDEND TO BE PAID FOR 2021 ON BACK OF CHF LAW IN
SLOVENIA
    * FY OPERATING RESULT AT EUR 54.9M VERSUS EUR 62.8M LAST
YEAR
    * FY NPE RATIO AT 2.9% (YE20: 3.5%) WITH NPE COVERAGE AT
71.9%
(YE20: 73.6%)
    * FY NON-PERFORMING EXPOSURE DOWN BY 20%
    * DIVIDEND OF EUR 46.6M (EUR 2.39 PER SHARE) DISTRIBUTED IN
TWO
TRANCHES IN 2021
    * OUTLOOK 2022: GROSS PERFORMING LOANS AT CA. EUR 3.3B WITH
MORE
THAN 10% GROWTH IN FOCUS AREAS
    * FY RESULT AFTER TAX OF EUR 13.6M (2020: EUR 1.4M)
    * OUTLOOK 2022: NET BANKING INCOME STABLE AT 2021 LEVEL
DESPITE
ACCELERATED RUN-DOWN IN NON-FOCUS
    * OUTLOOK 2022: OPERATING EXPENSES BELOW EUR 165M (EXCLUDING
EURO
PROJECT IN CROATIA ESTIMATED AT A MID-SINGLE DIGIT EUR MILLION
COST)
    * OUTLOOK 2022: CET1 RATIO ABOVE 18.6% ON A TRANSITIONAL
BASIS
    * OUTLOOK 2022: SUM OF OTHER RESULT AND CREDIT LOSS EXPENSES
ON
FINANCIAL ASSETS AT CA. 1% ON AVERAGE NET LOANS AND ADVANCES TO
CUSTOMERS

Source text for Eikon:  ID:nPex5b4nRa 
Further company coverage:  ADKO.VI 

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