Morrow Bank ASA (STU:KBN)

€ 0.742 0.002 (0.27%) Market Cap: 180.10 Mil Enterprise Value: 213.89 Mil PE Ratio: 13.14 PB Ratio: 0.88 GF Score: 56/100

Q4 2019 Komplett Bank ASA Earnings Call Transcript

Feb 12, 2020 / 09:00AM GMT

Transcript

Jan Olov Haglund

Komplett Bank ASA - CEO

Welcome to the presentation of the Q4 results for Komplett Bank. I say welcome also to the people on the webcast. With me today, I have Henning Fagerbakke, our CFO, who will help me go through the presentation.

Before moving on to the presentation, I want to start by saying 2019 was a disruptive year for Komplett Bank. I regret the strain that both our shareholders and employees have been put through. I want to underline that I'm very proud of all the hard work and dedication that our employees have shown throughout the year. I'm also very satisfied with many of the improvements that we have implemented so far. In 2019, Komplett Bank proved that we are an organization that rapidly can overcome and adjust to new and evolving circumstances.

Moving on to the report. Highlights of the quarter. Loan losses came in at NOK 222 million. Adjusted for additional provisions, the loan loss ratio was 5.6%. This increase is explained by 3 factors. We did additional provisions of NOK 105 million in the fourth quarter primarily related to LGD. We had the expiry

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