Brief: Addiko FY Net Profit EUR 1.4 Million

Addiko Bank AG

10/03/2021 06:26

March 10 (Reuters) - ADDIKO BANK AG  ADKO.VI :
    * FY OPERATING RESULT (BEFORE CHANGE IN P&L STRUCTURE) UP BY
C.
56% TO EUR 54.7MN (YE19: EUR 35.2MN)
    * DIVIDEND OF UP TO C. EUR 46.6MN (EUR 2.39 PER SHARE) TO BE
PROPOSED TO AGM 2021, FIRST PART OF C. EUR 7.0MN UNCONDITIONAL,
REMAINDER CONDITIONAL
    * FOR FULL YEAR OF 2020 TODAY, REPORTING A NET PROFIT OF EUR
1.4MN
    * EXPECTS FOR 2021 GROSS PERFORMING LOANS AT C. EUR 3.5BN
WITH >5%
GROWTH IN FOCUS
    * EXPECTS FOR 2021 CET1 RATIO ON A TRANSITIONAL BASIS BEING
ABOVE
18.6%
    * END-FY CET1 RATIO FURTHER IMPROVED TO 20.3% ON A
TRANSITIONAL
BASIS (19.3% IFRS 9 FULLY-LOADED)
    * EXPECTS FOR 2021 OPERATING EXPENSES BELOW EUR 174MN
    * FY NET INTEREST INCOME DECLINED BY 4.5% TO EUR 174.4MN
(YE19:
EUR 183.0MN)
    * EXPECTS FOR FULL YEAR 2021: GROSS PERFORMING LOANS AT C.
EUR
3.5BN WITH >5% GROWTH IN FOCUS, NET BANKING INCOME STABLE AT
2020 LEVEL
    * SEES 2021 OPERATING EXPENSES BELOW EUR 174MN, CET1 RATIO
ON A
TRANSITIONAL BASIS ABOVE 18.6%
    * SEES 2021 CREDIT LOSS EXPENSES ON FINANCIAL ASSETS BELOW
1% ON
AVERAGE LOANS AND ADVANCES TO CUSTOMERS

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

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