May 19, 2020 / 5:37 AM / 19 days ago

BRIEF-Addiko Bank Q1 Result After Tax Down At EUR -8.4 Mln

May 19 (Reuters) - ADDIKO BANK AG:

* REPORTED YTD 1Q20 RESULT AFTER TAX OF EUR -8.4MN (1Q19'S EUR +10.1MN)

* Q1 SOLID OPERATING RESULT BEFORE CHANGE IN CREDIT LOSS EXPENSES AT EUR 13.2MN, UP BY C. 30% YOY SUPPORTED BY COST CONTAINMENT

* AGM POSTPONED TO Q4 2020, ALLOWING TO REVIEW DIVIDEND 2019 PROPOSAL

* 2020 OUTLOOK INCLUDING DIVIDEND GUIDANCE TEMPORARILY SUSPENDED UNTIL FURTHER CLARITY ON COVID-19 IMPACT AND REGULATORY REQUIREMENTS

* CET1 RATIO 1Q20 STANDS AT A SOLID 16.9% ON A TRANSITIONAL BASIS (16.3% IFRS 9 FULLY-LOADED)

* AN UPDATE OF DIVIDEND GUIDANCE 2020 IS FORESEEN DURING Q4 OF YEAR 2020

* MID TERM TARGETS UNCHANGED, ACHIEVEMENT LIKELY TO BE DELAYED DEPENDING ON POST PANDEMIC RECOVERY Source text for Eikon: Further company coverage: (Gdansk Newsroom)

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