The Warsaw Voice » Business » News - August 21, 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.
Idea Bank's failure
Listed lender Idea Bank will suffer a total ca. PLN 318 million hit to Q2 earnings due to impairments and new reserves, as well as make equity capital corrections to the tune of ca. PLN 145 million, resulting in failure to meet capital adequacy requirements, the bank said in two separate filings.
The aggregate hit to bottom line includes ca. PLN 190 million in impairments and ca. PLN 128 million in new reserves, according to the lender.
Idea Bank also had to make consolidated equity capital corrections adding up to ca. PLN 145 million.
The company consequently estimates its CET 1 and TIER 1 ratios at 9.24%, below 9.375% and 10.875% minimum requirements set by financial market watchdog KNF, while TCR level is seen at 10.74% vs. the minimum requirement of 12.875%.
Idea Bank will publish its H1 financial report on September 21.