TF Bank makes additional provisioning for loan losses of SEK 30m in the first quarter and abandons the EPS financial target for 2020
Due to the uncertain macroeconomic situation as a result of the spread of the coronavirus in Europe, the Board of TF Bank has today decided to make an additional loan loss provision of SEK 30 million at the end of the first quarter of 2020. The measure should be seen in the light of the current accounting standards that require banks to make provisions for expected credit losses. The financial target of a profit of at least SEK 14.50 per share in 2020 is also abandoned in connection with today's announcement.On January 1, 2018, new accounting standards were introduced for loan loss