Investor Presentaiton
Borrowings
Limited need to access international wholesale funding markets in 2020
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•
•
•
Liquidity Coverage Ratio of 224%, far
above the regulatory minimum of 100%
In addition to a strong stand alone
liquidity position the Central Bank of
Iceland has made increased liquidity
available to banks
Arion Bank covered bonds are now
eligible collateral in Central Bank
financing
No material redemption of long term
funding until December 2021
Comfortable liquidity position and limited
refinancing needs mean that the Bank
does not need to access international
wholesale funding markets in 2020
Credit rating from S&P changed in April
from BBB+ to BBB but outlook changed
from negative to stable
Rating change largely due to expected
negative effects of Covid-19 on the Bank
23
All amounts in ISK billion
Borrowings by type
445
13
401
18
356
14
210
176
Maturities of borrowings (%)
90.4
51.2
40.3
40.4
28.1
323
17.2
216
305
0
2
173
158
15.1
3.7 0.3
28.1
7.7
2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 >2030
■ Covered bonds ■Senior unsecured
-
Ratings S&P (April 2020)
216
166
173
145
149
Senior unsecured
BBB
A
Short term debt
A-2
A-1
31.03.2017 31.03.2018
31.03.2019
31.12.2019
31.03.2020
Covered bonds
■Senior unsecured
Bills and other
Outlook
Stable
Stable
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