Financial results first quarter 2020
“The first two months of 2020 showed good momentum in the underlying business, with solid customer activity and lending growth in most markets. However, the coronavirus pandemic impacted the results significantly towards the end of the quarter. The key drivers were impairments made mainly because of the assumptions of a worsened macroeconomic scenario, the decline in oil prices and charges against exposure to certain sectors. We also saw the highly turbulent markets result in extraordinarily low trading income."
Chief Executive Officer