Bonum Bank Plc: The Coronavirus Pandemic adds uncertainty to the financial results of Bonum Bank Plc and POP Bank Group
Bonum Bank Plc
Inside Information
Stock Exchange Release 9 April 2020 at 10.15 The Coronavirus Pandemic adds uncertainty to the financial results of Bonum Bank Plc and POP Bank Group The worldwide crisis caused by the coronavirus pandemic has weakened the global economic outlooks. Uncertainty in the operational environment of Bonum Bank Plc has increased, especially with regards to the predictability of funding available in the capital markets and the future development of impairment of unsecured consumer loans. It is still too early to reliably estimate the overall effects. Previously Bonum Bank Plc has estimated a positive result for the entire financial year. Bonum Bank Plc will clarify the outlook for the second half of the financial year upon the release of the half-year financial report on 18 August 2020.Uncertainty has also increased concerning the 2020 result of the POP Bank Group. Market volatility is high and estimated to lower the net investment income. Effects of the pandemic may also decrease the interest and commission income and increase the impairment of loans. As the situation continues to evolve, it is difficult to reliably estimate the overall effects of the coronavirus pandemic to the result of POP Bank Group. The management of POP Bank Group has previously estimated that in 2020 the result of the Group will be weaker than in 2019.
Further information:CEO Pekka Lemettinen, POP Bank Alliance Coop
Tel: +358 40 5035 411, email: pekka.lemettinen@poppankki.fiCEO Pia Ali-Tolppa, Bonum Bank Plc
Tel: +358 50 303 1476, email: pia.ali-tolppa@poppankki.fi Distribution:
Nasdaq Helsinki
www.poppankki.fi
Inside Information
Stock Exchange Release 9 April 2020 at 10.15 The Coronavirus Pandemic adds uncertainty to the financial results of Bonum Bank Plc and POP Bank Group The worldwide crisis caused by the coronavirus pandemic has weakened the global economic outlooks. Uncertainty in the operational environment of Bonum Bank Plc has increased, especially with regards to the predictability of funding available in the capital markets and the future development of impairment of unsecured consumer loans. It is still too early to reliably estimate the overall effects. Previously Bonum Bank Plc has estimated a positive result for the entire financial year. Bonum Bank Plc will clarify the outlook for the second half of the financial year upon the release of the half-year financial report on 18 August 2020.Uncertainty has also increased concerning the 2020 result of the POP Bank Group. Market volatility is high and estimated to lower the net investment income. Effects of the pandemic may also decrease the interest and commission income and increase the impairment of loans. As the situation continues to evolve, it is difficult to reliably estimate the overall effects of the coronavirus pandemic to the result of POP Bank Group. The management of POP Bank Group has previously estimated that in 2020 the result of the Group will be weaker than in 2019.
Further information:CEO Pekka Lemettinen, POP Bank Alliance Coop
Tel: +358 40 5035 411, email: pekka.lemettinen@poppankki.fiCEO Pia Ali-Tolppa, Bonum Bank Plc
Tel: +358 50 303 1476, email: pia.ali-tolppa@poppankki.fi Distribution:
Nasdaq Helsinki
www.poppankki.fi