Brief: The Bank Of Greenland Updates On MREL Requirement

Groenlandsbanken A/S

05/10/2021 08:18

Oct 05 (Reuters) - Groenlandsbanken A/S  GRLA.CO :
    * SAID ON MONDAY THE DANISH FSA HAS DECIDED ON THE BANK'S
MINIMUM
REQUIREMENT FOR OWN FUNDS AND ELIGIBLE LIABILITIES (MREL)
    * THE FSA ASSIGNS A MREL REQUIREMENT OF 30.4% OF THE BANK’S
RISK-WEIGHTED ASSETS AS PER YEAR-END OF 2020
    * THE MREL REQUIREMENT WILL BE PHASED IN DURING THE
2022-2027
PERIODE
    * THE BANK OF GREENLAND EXPECTS TO COVER MOST OF THE MREL
REQUIREMENT BY ISSUING TIER 3 CAPITAL AND TO A LESSER EXTENT
WITH TIER 1 AND TIER 2 CAPITAL
    * WILL, IN THE COMING PERIODE, REASSESS CAPITAL TARGETS AND
DISTRIBUTION ON CAPITAL INSTRUMENTS
    * NEW CAPITAL TARGETS WILL BE ANNOUNCED NO LATER THAN THE
PUBLICATION OF THE ANNUAL REPORT FOR 2021
    * THE AFOREMENTIONED DECISION AND AGREEMENTS DO NOT AFFECT
THE
BANK’S PREVIOUSLY ANNOUNCED EXPECTATIONS OF A PROFIT BEFORE TAX
OF DKK 125-140 MILLION IN 2021

    
    
 Source text for Eikon:  urn:newsml:reuters.com:*:nGNE2M66WS
 Further company coverage:  GRLA.CO  

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