Føroya Banki raises its expectations for net profit for full-year 2026 to the range of DKK 225-255 million, compared with the previous DKK 190-235 million. 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 fee income have developed more favorably than expected, while the insurance result has fallen below expectations.
Expectations for the remainder 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 results and geopolitical factors.
The interim report for the third quarter will be published as planned on November 4.
