Brief: Kvika Banki Updates On FY Earnings Estimates

Kvika banki

29/10/2020 14:05

Oct 29 (Reuters) - Kvika banki hf  KVIKA.IC :
    * REG-KVIKA BANKI HF.: PRELIMINARY RESULTS FOR Q3 2020 AND
UPDATED
EARNINGS ESTIMATE FOR THE YEAR
    * RESULTS FOR QUARTER ARE HIGHER THAN WERE EXPECTED
    * ESTIMATED EARNINGS BEFORE TAX FOR FIRST NINE MONTHS AMOUNT
TO
ISK 1,530 MILLION
    * REVISION IN EARNINGS FORECAST CAN BE MAINLY ATTRIBUTED TO
IMPROVED RESULTS FROM ASSET MANAGEMENT OPERATIONS, STRONG
PROJECT PIPELINE OF CORPORATE FINANCE DIVISION AND INCREASE IN
NET FINANCIAL INCOME
    * IT HAS NOW BEEN DECIDED TO INCREASE MEDIAN FOR EARNINGS
BEFORE
TAX ESTIMATE BY ISK 150 MILLION AND EARNINGS FOR YEAR BEFORE TAX
ARE NOW EXPECTED TO RANGE BETWEEN ISK 2,000 - 2,300 MILLION

Source text for Eikon:  ID:nGNEcfKzDg 
Further company coverage:  KVIKA.IC 

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