Brief: Komplett Bank Expects To Make Additional Loan Loss Provisions In 2020

Morrow Bank ASA

25/03/2020 07:05

March 25 (Reuters) - Komplett Bank ASA  KOMPBK.OL :
    * KOMPLETT BANK: OPERATIONAL AND FINANCIAL UPDATE
    * ON CORONAVIRUS: PANDEMIC IS NOT EXPECTED TO HAVE A
MATERIAL
IMPACT ON DAY-TO-DAY OPERATIONS OR TO COMPROMISE ANY OF BANK'S
PRODUCTS AND SERVICES.
    * LOAN GROWTH ADJUSTED FOR CURRENCY EFFECTS IS EXPECTED TO
BE
SLIGHTLY NEGATIVE IN Q1 2020.
    * AS A CONSEQUENCE OF PANDEMIC AND RESULTING CHANGES IN
MACROECONOMIC CONDITIONS, KOMPLETT BANK EXPECTS TO MAKE
ADDITIONAL LOAN LOSS PROVISIONS DURING 2020
    * KOMPLETT BANK HAS A SOLID LIQUIDITY POSITION AND HAS NO
REFINANCING NEEDS IN 2020.
    * LOAN LOSSES FOR FIRST TWO MONTHS OF YEAR IMPROVED
SIGNIFICANTLY
COMPARED TO AVERAGE LEVEL IN Q4 2019
    * UNAUDITED PRE-TAX OPERATING PROFIT CAME IN AT NOK 74.5
MILLION
FOR FIRST TWO MONTHS OF 2020.

Source text for Eikon:  ID:nObiBKy56a 
Further company coverage:  KOMPBK.OL 

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