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21st Austria weekly - Addiko (05/02/2020)

09.02.2020

Addiko: Addiko Group, a Consumer and SME specialist bank headquartered in Austria, released its preliminary results for the full year 2019 today. The Bank reported a 2019 result after tax of Euro 35.1 mn including one-offs (2018: Euro 104.2mn), with a fourth quarter result after tax of Euro 11.7 mn (4Q18: Euro 7.8mn). Adjusted for one-offs, Addiko Group delivered further improved results and achieved a 4.6% increase in net banking income at stable cost, continuing to benefit from credit loss releases. The adjusted result after tax of Euro 40.9 mn improved by approx. 32% compared to the full year 2018 (2018: Euro 30.9 mn). The continued positive development resulted in improved adjusted return on tangible equity with 4.9% (2018: 3.7%). The return on tangible equity (@14.1% CET1 Ratio) on an adjusted basis amounted to 5.6% (2018: 4.2%). The adjustments in the year 2019 are largely a result of provisions in connection with legal matters regarding CHF loans in Croatia, write off’s following the CHF conversion law in Serbia, restructuring provisions and IPO expenses, and a positive one-off related to the successful restructuring of the Group’s largest NPE in Croatia. The adjustment in the 2018 result was predominantly influenced by a positive impact of a Tier 2 waiver from the previous sole shareholder AI Lake (Luxembourg) S.à r.l.
Addiko Bank: weekly performance: 3.33%

(From the 21st Austria weekly https://www.boerse-social.com/21staustria (05/02/2020)


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21st Austria weekly - Addiko (05/02/2020)


09.02.2020


Addiko: Addiko Group, a Consumer and SME specialist bank headquartered in Austria, released its preliminary results for the full year 2019 today. The Bank reported a 2019 result after tax of Euro 35.1 mn including one-offs (2018: Euro 104.2mn), with a fourth quarter result after tax of Euro 11.7 mn (4Q18: Euro 7.8mn). Adjusted for one-offs, Addiko Group delivered further improved results and achieved a 4.6% increase in net banking income at stable cost, continuing to benefit from credit loss releases. The adjusted result after tax of Euro 40.9 mn improved by approx. 32% compared to the full year 2018 (2018: Euro 30.9 mn). The continued positive development resulted in improved adjusted return on tangible equity with 4.9% (2018: 3.7%). The return on tangible equity (@14.1% CET1 Ratio) on an adjusted basis amounted to 5.6% (2018: 4.2%). The adjustments in the year 2019 are largely a result of provisions in connection with legal matters regarding CHF loans in Croatia, write off’s following the CHF conversion law in Serbia, restructuring provisions and IPO expenses, and a positive one-off related to the successful restructuring of the Group’s largest NPE in Croatia. The adjustment in the 2018 result was predominantly influenced by a positive impact of a Tier 2 waiver from the previous sole shareholder AI Lake (Luxembourg) S.à r.l.
Addiko Bank: weekly performance: 3.33%

(From the 21st Austria weekly https://www.boerse-social.com/21staustria (05/02/2020)




 

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