Brief: Addiko Bank Q3 Profit After Tax At EUR 5.8 Mln

Addiko Bank AG

04/11/2020 06:33

Nov 4 (Reuters) - ADDIKO BANK AG  ADKO.VI :
    * REPORTED YTD 3Q20 RESULT AFTER TAX OF EUR -6.4MN (1H20:
EUR
-12.2MN, 3Q19: EUR +23.4MN)
    * POSITIVE Q3 RESULT AFTER TAX OF EUR +5.8MN (2Q20: EUR
-3.8MN,
1Q20: EUR -8.4MN)
    * CREDIT LOSS EXPENSES INCREASED TO EUR -37.8MN YTD (1H20:
EUR
-29.2MN
    * REVISED OUTLOOK 2020, MID TERM TARGETS CURRENTLY BEING
FINALISED
    * FURTHER STRENGTHENED TRANSITIONAL CET1 RATIO OF 19.2%
(IFRS 9
FULLY-LOADED CET1 RATIO OF 18.5%)
    * NOW EXPECTING FY GROSS PERFORMING LOANS TO AMOUNT TO CA.
EUR
3.6BN (PREVIOUSLY EUR 3.5BN)
    * SEES FY CREDIT LOSS EXPENSES ON FINANCIAL ASSETS TO BE
MAX. 1.5%
ON AVERAGE LOANS AND ADVANCES TO CUSTOMERS (PREVIOUSLY 1.1% TO
2.2%)
    * OUTLOOK 2020: OTHER ITEMS REMAINED UNCHANGED TO PREVIOUS
DISCLOSURE IN AUGUST
    * SEES FY CET1 RATIO ON A TRANSITIONAL BASIS BEING ABOVE 19%
(WITH
PREVIOUSLY PROPOSED 2019 DIVIDEND ALREADY BEING DEDUCTED)

Source text for Eikon:  ID:nPexnW4Vxa 
Further company coverage:  ADKO.VI 

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