Brief: Ålandsbanken Q1 Prelim. Net Operating Profit And Revision Of Earnings Forecast For 2020

Alandsbanken Abp

07/04/2020 12:47

April 7 (Reuters) - Alandsbanken Abp  ALBAV.HE :
    * REG-THE BANK OF ÅLAND’S PRELIMINARY NET OPERATING PROFIT
FOR Q1
AND REVISION OF THE EARNINGS FORECAST FOR 2020 IN LIGHT OF THE
MARKET SITUATION
    * PRELIMINARILY, NET OPERATING PROFIT BEFORE IMPAIRMENT
LOSSES IN
Q1 OF 2020 AMOUNTS TO EUR 10.7 M
    * IS NOT YET SEEING AN INCREASE IN NON-PERFORMING LOANS DUE
TO
CORONAVIRUS CRISIS
    * MODEL-DRIVEN IMPAIRMENT LOSSES ON FINANCIAL ASSETS IN
COMPLIANCE
WITH IFRS 9 ARE INCREASING SIGNIFICANTLY
    * PRELIMINARY NET OPERATING PROFIT FOR Q1 IS EUR 6.9 M, EUR
1.1 M
OR 20 PER CENT BETTER THAN IN SAME PERIOD OF LAST YEAR
    * DETERIORATING MACROECONOMIC OUTLOOK SITUATION WILL HAVE A
NEGATIVE IMPACT ON NET OPERATING PROFIT IN 2020
    * DECIDED TO REFRAIN FROM ISSUING ANY OUTLOOK FOR 2020

Source text for Eikon:  ID:nGNE3D5XXl 
Further company coverage:  ALBAV.HE 

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