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Investor Presentaiton

Operational highlights of the first quarter 2020 11 H Arion Bank's strategy results in core operations trending positively NIM improves YoY NII to Credit risk improves YoY Core revenues up 9% OPEX is down 10% YoY Covid-19 related issues push earnings into negative territory Equity positions decreased in line with the market Impairments increase substantially HFS assets negatively affected by the pandemic AT1 issuance and cancelation of dividend and buy-backs push total capital ratio up to 27.5% Surplus Capital of ISK 39 billion on top of ISK 24 billion from management buffer and lowering of countercyclical buffer ROE from continuing operations negative 2.7% and Operating income/REA was 5.0% Deposits increase by 9.4% from YE 2019
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