Citi starts Islandsbanki with 'neutral', says ROE enchancement priced in

Islandsbanki hf

29/07/2021 08:28

** Citi initiates coverage on shares of Icelandic bank
Islandsbanki  ISB.IC  with "neutral" and TP at ISK 106 ($0.8502)
    ** The brokerage says it believes ROE enhancement is largely
priced in after shares are up 37% since IPO on June 15
    ** Adds that profitability is set to improve driven by
recovering macro, efficiency enhancement and capital returns
    ** Shares of Islandsbanki rose 4.8% in the last month​,
outperforming the STOXX index, which rose 2%

($1 = 124.6800 Icelandic Crowns)

 (Reporting by Tommy Lund)
 ((Tommyalexander.lund@thomsonreuters.com))