May 6, 2020 / 5:52 PM / 25 days ago

BRIEF-Arion Banki reported Q1 Net Loss Of ISK 2,171 Mln Versus Net Earnings Of ISK 1,018 Mln For Same Period In 2019

May 6 (Reuters) - Arion banki hf:

* NET LOSS OF ISK 1,282 MILLION FROM CONTINUING OPERATIONS AND A NET LOSS OF ISK 2,171 MILLION IN QUARTER

* QTRLY RETURN ON EQUITY WAS NEGATIVE BY 4.6% AND 2.7% FROM CONTINUING OPERATIONS

* TOTAL ASSETS AMOUNTED TO ISK 1,188 BILLION AT END OF MARCH 2020, COMPARED WITH ISK 1,082 BILLION AT END OF 2019

* BANK’S CAPITAL RATIO AT END OF MARCH 2020 WAS 27.5%, COMPARED WITH 24.0% AT END OF 2019

* CET 1 RATIO WAS 22.5% AT END OF MARCH 2020, COMPARED WITH 21.2% AT END OF 2019

* COVID-19 HAD A SUBSTANTIAL EFFECT ON ICELANDIC ECONOMY AND ARION BANK DURING LAST MONTH OF Q1 OF 2020

* Q1 NET LOSS OF ISK 2,171 MILLION VERSUS NET EARNINGS OF ISK 1,018 MILLION FOR SAME PERIOD IN 2019 Source text for Eikon: Further company coverage:

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