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Third party research

Føroya Banki: Another guidance upgrade - Nordea

Føroya Banki

This is a third party research report and does not necessarily reflect our views or values

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This afternoon, Føroya Banki raised its 2024 net profit guidance to DKK 302-312m (previously DKK 275-300m) amid a solid investment portfolio return and lower loan losses than expected during Q4 2024. We estimate 2024 net profit of DKK 294m. This was the third guidance upgrade from the bank since the H1 2024 results. While it looks like a low quality beat with limited impact for 2025-26 estimates, we note that this once again underlines the solid asset quality of Føroya Banki in our view. We would hence expect to see a minor positive share reaction today.
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