BRAbank ASA: Cost measures starting to materialise
Highlights: · Underlying operation in line with expectations · OPEX in line with guidance · Limited COVID-19 impact on Q1 results · Decreased loan loss ratio adjusted for currency effects · Compliance with capital requirements restored after successful measures in Q1 · Private placement, Tier 2 bond issue, sale of non-performing loans · Risk management remains key priority for 2020 · Sales of new loans temporarily halted from mid-March · Plan to open for new loans by end of May · Still limited COVID-19 impact observed in April ·