DnB released on Monday its Q2 20 numbers. The numbers were better across-the-board. Revenues were above expectations (although mostly driven by trading) and loan losses were 40% below expectations as the bank has seen some reversals in every stage (1,2,3) of IFRS9 vs Q1 20. The CET1 ratio at 18.2% was also above the expectations of 17.6% thanks to FX effects and a decrease in counterparty risk (+30bp). According to management, the bulk of the 2020 “COVID-19 provisions” have been b
15 Jul 2020
Lower loan losses key to performance
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Lower loan losses key to performance
DnB released on Monday its Q2 20 numbers. The numbers were better across-the-board. Revenues were above expectations (although mostly driven by trading) and loan losses were 40% below expectations as the bank has seen some reversals in every stage (1,2,3) of IFRS9 vs Q1 20. The CET1 ratio at 18.2% was also above the expectations of 17.6% thanks to FX effects and a decrease in counterparty risk (+30bp). According to management, the bulk of the 2020 “COVID-19 provisions” have been b