Brief: Sparebank 1 Sr Bank ASA - Q1 Net Impairments On Loans And Financial Liabilities Expected Around Nok 560 mln

Sparebank 1 Sor-Norge ASA

22/04/2020 06:34

April 22 (Reuters) - Sparebank 1 SR Bank ASA  SRBANK.OL :
    * SPAREBANK 1 SR-BANK ASA (SRBANK): INCREASED LOAN IMPAIRMENTS AND REDUCED
    * SPAREBANK 1 SR BANK ASA - MARKED DOWNTURN IN ACTIVITY HAS RESULTED IN UNCERTAINTY AND
WEAKER
PROFITABILITY FOR MANY OF OUR CUSTOMERS.
    * SPAREBANK 1 SR BANK ASA - NET IMPAIRMENTS ON LOANS AND FINANCIAL LIABILITIES ARE EXPECTED
TO BE
AROUND NOK 560 MILLION FOR Q1 OF 2020
    * SPAREBANK 1 SR BANK ASA - HIGHER IMPAIRMENTS ARE A RESULT OF CHANGED MARKET CONDITIONS FOR
OFFSHORE RELATED ACTIVITIES,
    * SPAREBANK 1 SR BANK ASA - GROUP'S NET IMPAIRMENTS ON LOANS AND FINANCIAL LIABILITIES ARE
EXPECTED TO BE AROUND NOK 560 MILLION FOR Q1 OF 2020
    * SPAREBANK 1 SR BANK ASA - THERE HAS ALSO BEEN A NEED TO INCREASE IFRS 9 PROVISIONS.
    * SPAREBANK 1 SR BANK ASA - Q1 NET INCOME FROM FINANCIAL INVESTMENTS IS EXPECTED TO BE
AROUND NOK
- 30 MILLION.
    * SPAREBANK 1 SR BANK ASA - EQUITY AFTER TAX FOR QUARTER, IS EXPECTED TO END UP IN RANGE OF
3% TO
4%.

Source text for Eikon:  ID:nObi0sh55a 
Further company coverage:  SRBANK.OL 

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