Føroya Banki raises its expectations for net profit for full-year 2026 to the range of 225-255 million Danish kroner, compared with the previous 190-235 million Danish kroner. This is stated in a press release.
The increase is mainly due to low credit losses, reflecting good credit quality in the loan portfolio. In addition, net interest income and commission income have developed more favorably than expected, while the insurance result has come in below expectations.
Expectations for the rest of the year are positive, but subject to uncertainty related to interest rate developments, returns on the investment portfolio, impairment costs, the insurance business’s result and geopolitical factors.
The interim report for the third quarter will be published as planned on November 4.
