Brief: Sparebank 1 SR Bank Sees Q2 Net Impairments Around NOK 830 Mln

Sparebank 1 Sor-Norge ASA

17/07/2020 06:38

July 17 (Reuters) - Sparebank 1 SR Bank ASA  SRBANK.OL :
    * GROUP'S NET IMPAIRMENTS ON LOANS AND FINANCIAL LIABILITIES
ARE
EXPECTED TO BE AROUND NOK 830 MILLION FOR Q2 OF 2020
    * HIGHER IMPAIRMENTS ARE A RESULT OF ONGOING DEMANDING
MARKET
CONDITIONS FOR OFFSHORE RELATED ACTIVITIES, WHERE ALSO LARGER
IMPAIRMENTS HAVE BEEN REQUIRED FOR SOME COMMITMENTS.
    * RETURN ON EQUITY AFTER TAX FOR Q2 IS THEN EXPECTED TO END
AT A
LEVEL AROUND 4%.
    * LEVEL OF IMPAIRMENTS ON LOANS AND FINANCIAL LIABILITIES IS
EXPECTED TO BE MUCH LOWER GOING FORWARD, BUT THERE AT STILL
UNCERTAINTY IN MARKET CONDITIONS.

Source text for Eikon:  ID:nObi5dQP9a 
Further company coverage:  SRBANK.OL 

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