Brief: Kvika Banki Announces Preliminary Results For Q1 2020

Kvika banki

21/04/2020 19:41

April 21 (Reuters) - Kvika banki hf  KVIKA.IC :
    * REG-KVIKA BANKI HF.: PRELIMINARY RESULTS FOR Q1 2020
    * Q1 ESTIMATED EARNINGS BEFORE TAX FOR QUARTER AMOUNTED TO ISK 446 MILLION
    * Q1 ESTIMATED CAPITAL ADEQUACY RATIO WAS 24.2%
    * Q1 LIQUIDITY COVERAGE RATIO (LCR) WAS 275%
    * Q1 ESTIMATED TOTAL ASSETS AMOUNTED TO ISK 117.1 BILLION
    * COVID-19 PANDEMIC IS LIKELY TO RESULT IN PAYMENT DIFFICULTIES FOR SOME OF THE BANK’S
CUSTOMERS
    * LOANS TO CUSTOMERS ACCOUNTED FOR 26.4% OF BANK'S BALANCE SHEET AND AMOUNTED TO ISK 30.9
BILLION
AT END OF MARCH
    * LIQUIDITY COVERAGE RATIO WAS 275% AT END OF MARCH, COMPARED TO 246% AT END OF 2019
    * ESTIMATED CAPITAL ADEQUACY RATIO AT END OF MARCH WAS 24.2%, TAKING INTO ACCOUNT 25% ANNUAL
DIVIDEND POLICY, VERSUS 24.1% AT END OF 2019

Source text for Eikon:  ID:nGNE6RgQf7 
Further company coverage:  KVIKA.IC 

 ((Reuters.Briefs@thomsonreuters.com;))