Brief: Addiko Bank Q1 Result After Tax Down At EUR -8.4 Mln

Addiko Bank AG

19/05/2020 06:34

May 19 (Reuters) - ADDIKO BANK AG  ADKO.VI :
    * REPORTED YTD 1Q20 RESULT AFTER TAX OF EUR -8.4MN (1Q19'S
EUR
+10.1MN)
    * Q1 SOLID OPERATING RESULT BEFORE CHANGE IN CREDIT LOSS
EXPENSES
AT EUR 13.2MN, UP BY C. 30% YOY SUPPORTED BY COST CONTAINMENT
    * AGM POSTPONED TO Q4 2020, ALLOWING TO REVIEW DIVIDEND 2019
PROPOSAL
    * 2020 OUTLOOK INCLUDING DIVIDEND GUIDANCE TEMPORARILY
SUSPENDED
UNTIL FURTHER CLARITY ON COVID-19 IMPACT AND REGULATORY
REQUIREMENTS
    * CET1 RATIO 1Q20 STANDS AT A SOLID 16.9% ON A TRANSITIONAL
BASIS
(16.3% IFRS 9 FULLY-LOADED)
    * AN UPDATE OF DIVIDEND GUIDANCE 2020 IS FORESEEN DURING Q4
OF
YEAR 2020
    * MID TERM TARGETS UNCHANGED, ACHIEVEMENT LIKELY TO BE
DELAYED
DEPENDING ON POST PANDEMIC RECOVERY

Source text for Eikon:  ID:nPexlL0Xba 
Further company coverage:  ADKO.VI 

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