Føroya Banki revises its 2024 net profit guidance upwards

Announcement no. 15/2024

Føroya Banki is revising the guidance for the net profit for 2024 from the earlier announced estimate of DKK 250-280m to be in the range DKK 275-300m.

The adjustment is driven by an improved outlook in core operations with growth in both lending and deposit volumes and a solid investment portfolio return. Furthermore, a reasonable level of impairment reflects the general sound credit quality of the bank’s customers.