Please wait...

Update regarding transition to new approach for measuring operational risk

The Bank has earlier communicated its intention to transition to the Standardised Approach for measuring operational risk

Reference is made to Komplett Bank’s (“the Bank”) stock exchange release on 31 March 2020, in which the Bank communicated its intention to transition to the Standardised Approach for measuring operational risk. The transition was expected to have a positive effect of approximately 0.8%-points on Komplett Bank’s capital adequacy as of 31 March 2020.

On Friday afternoon, 24 April 2020, Komplett Bank was notified by the Financial Supervisory Authority of Norway (FSA)that the Bank is requested to conduct an independent review of the management system for operational risk prior to the transition to the Standardised Approach.

Komplett Bank will conduct the requested review and remains confident that its internal assessment will be confirmed. However, the Q1 2020 capital adequacy will be reported using the Basic Indicator Approach, as in previous quarters.

The delayed transition is not expected to materially impact Komplett Bank’s results, strategy or compliance with capital requirements. 

For further information, please contact: 
Henning Fagerbakke, CFO
+47 954 63 720
ir@komplettbank.no