Investor Presentaiton
Balance sheet - Liabilities and equity
Deposits are increasing in the funding mix
.
Strong equity position and a very high
leverage ratio
Dividend payment of ISK 10.0 billion in March
2020 cancelled as well as share-buy back
program
The Bank is a frequent issuer of covered
bonds in the domestic market and a regular
issuer of senior unsecured in the international
market. Increase in borrowings during the
quarter is primarily due to weaker ISK against
foreign currencies
Deposits increased by 9.4% from YE 2019 -
continued focus on deposits going forward
The Bank issued its first AT1 instrument
during the quarter (USD 100 million or ISK 13
billion) and has previously issued a number of
Tier 2 subordinated bonds in line with its
capital strategy
The funding mix is well balanced between
deposits, covered bonds and senior
unsecured bonds
Equity
CET1 ratio 22.5% Capital
adequacy ratio 27.5%
Leverage ratio 14.5%
Borrowings (in ISK)
ISK 150 billion
EUR 134 billion
Other currencies 38
billion
Deposits
On demand 70%
Up to 3M 16%
More than 3M 14%
9.4% increase from
31.03.2019
24
21
All amounts in ISK billion
31.03.2020
31.12.2019
31.03.2019
ISK 1,188 billion ISK 1,082 billion ISK 1,222 billion
184
193
190
97
78
7
36
68
20
■ Covered bonds
445
46%
322
54%
305
■ Senior unsec. bonds
8
6
9
5%
■Individuals
20%
539
493
490
Corporates
48%
27%
■ Pension funds &
domestic fin. institutions
■ Other
"
Deposits Due to credit institutions and Central Bank Borrowings ▪ Subordinated liabilities Other liabilities Equity
1 Other includes Financial liabilities at fair value, tax liabilities, Liabilities associated with disposal groups held for sale and Other liabilities
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