We use cookies to make sure our website better meets your expectations.
You can adjust your web browser's settings to stop accepting cookies. For further information, read our cookie policy.
IN Warsaw
Exchange Rates
Warsaw Stock Exchange - Indices
The Warsaw Voice » Business » September 24, 2018
You have to be logged in to use the ReadSpeaker utility and listen to a text. It's free-of-charge. Just log in to the site or register if you are not registered user yet.
Two and a half years of recovery for Idea Bank
September 24, 2018   
Article's tools:

Idea Bank will head to a regulatory supervised repair plan after mass impairments and earnings revisions pushed the bank to a PLN 404.6 million Q2 net loss and a breach of profitability thresholds in its to-date repair program, the bank said in a market filing following publication of Q2 figures.
The bank will sell assets as part of the plan, including Idea Getin Leasing, cut OPEX, reshape its balance sheet for improved NIM and rejig is sales model for better revenues, the bank said. The plan should run to 2020, the bank said.
Tier 1 solvency for the group fell to 8.21% at end-H1 from a revised 11.89% at end-2017, the H1 report showed. The total solvency ratio fell to 9.77% from 13.33%.
Q2 earnings were sunk by additional impairments, including on insurance product sales and factoring receivables, with revisions also to the end-2017 balance sheet readings, management said in a separate filing.
The Q2 P&L showed a 31% decline in net interest earnings, a PLN 189 million negative result on f&c income to follow revisions in the insurance and investment product sales and an increase in risk provisioning to PLN 95 million.
© The Warsaw Voice 2010-2018
E-mail Marketing Powered by SARE