Brief: Addiko Bank Says Draft SREP Letter Foresees Pillar 2 Guidance Down To 2%

Addiko Bank AG

08/11/2021 15:04

Nov 8 (Reuters) - ADDIKO BANK AG  ADKO.VI :
    * DISCLOSES DRAFT SREP LETTER FOR 2022
    * HAS RECEIVED A DRAFT SREP LETTER FOR 2022 INDICATING A
PILLAR 2
REQUIREMENT (P2R) OF 3.25% (DOWN FROM CURRENTLY 4.1%, IN ITS
ENTIRETY TO BE HELD IN CET1)
    * TO BE HELD IN FORM OF 56.25% OF COMMON EQUITY TIER 1
(CET1)
CAPITAL AND 75% OF TIER 1 CAPITAL, AS A MINIMUM
    * DRAFT LETTER FORESEES A PILLAR 2 GUIDANCE (P2G) OF 2.0%
(DOWN
FROM CURRENTLY 4.0%) WHICH SHOULD BE COMPRISED ENTIRELY OF
COMMON EQUITY TIER 1 (CET1) CAPITAL
    * ONGOING COMPREHENSIVE ASSESSMENT, WHOSE RESULT IS EXPECTED
IN
FIRST HALF OF 2022, WILL HAVE AN EFFECT ON FINAL EVALUATION OF
P2G
    * TARGET CAPITALISATION AND DIVIDEND GUIDANCE CURRENTLY
REMAINS
UNAFFECTED AND WILL BE ALIGNED WITH REGULATOR IN COURSE OF
UPDATE OF BANK'S MID-TERM TARGETS

Source text for Eikon:  ID:nPex9rHm1a 
Further company coverage:  ADKO.VI 

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