Arion banki hf.
Inside information

Profit Warning: Negative impact on Q3 financial results

Due to unforeseen events Arion Bank expects to make an impairment and pay out guarantees which will negatively affect the Bank’s Q3 2018 financial results. The post tax impact is expected to amount to ISK 1.3 – 1.8 billion. Consequently, the Bank’s CET1 ratio is expected to decrease by up to 0.2 percentage points. The credit facilities in question relate to a corporation which has been a customer of the Bank and its predecessor for many years.

The Bank’s medium term financial targets, such as the Bank’s CET 1 target, remain unchanged. The impairment is regarded as a one-off event and does not affect the Bank’s regular income and operating expenses.

Arion Bank will publish its Q3 financial statements on 31 October 2018.

Contacts:
Sture Stolen, head of Arion Bank’s investor relations, at IR@arionbanki.is.
Haraldur Guðni Eiðsson, head of Arion Bank’s Corporate communications, at haraldur.eidsson@arionbanki.is, tel. +354 444 7108.  

This information is information that Arion Banki hf. is obliged to disclose pursuant to the EU Market Abuse Regulation.