Investor Presentaiton
15
Net financial income
Loss on equity holdings as markets are hit hard by Covid-19
Net financial income in Q1 was
negatively affected by:
Bond holdings
Net financial income
1.0
0.9
131.0
0.8
0.5
Equity holdings measured at fair
115.4
value as markets were negative from
the start of Covid 19 pandemic
94.6
31.1
63.6
81.0
FX loss of ISK 156 million at the
30.7
65.88
22.9
Arion Bank level. The Bank manages
29.7
FX risk for the Group and ISK 413
84.3
million of FX gains are booked at
HFS assets
58.2
63.9
67.3
36.2
Q1 2019
Q2 2019
Q3 2019
Q4 2019
Q1 2020
■FX ■ISK
Net loss of fair value hedge of
interest swaps
It was positively affected by:
FV development in bond holdings
which increased significantly due to
postponement of dividend payment,
issuance of AT1 and increase in
deposits
Equity holdings
23.6
21.6
20.9
Favorable developments in market
derivatives
3.4
19.6
19.2
4.6
2.2
4.4
2.5
10.1
Total portfolio of Vördur is ISK 20.0
7.5
7.5
7.4
6.2
billion; ISK 12.6 billion of bonds and ISK
7.4 billion in equity instruments
10.1
9.9
9.2
9.6
10.2
All amounts in ISK billion
FX gain at HFS assets
0.4
(2.0)
Q1 2019
Q2 2019
Q3 2019
Q4 2019
Q1 2020
Net financial income by type in Q1 2020
0.5
0.1
(0.2)
0.4
(2.4)
Q1 2019
Q2 2019
Q3 2019
Q4 2019
Q1 2020
■Listed
Unlisted
■Unlisted bond funds
Equity
holdings
Bond
holdings
Derivatives
FX
difference
FX difference
at HFS
assets
(1.6)View entire presentation