Kvika banki hf.: Estimated earnings for the year 2020 - Continued improvement in core operations
Kvika‘s Board of Directors has approved the bank‘s earnings forecast for the year 2020.
According to the forecast, profit before taxes will amount to ISK 2,300 - 2,700 million and return on equity before taxes will be 15% - 18%. The bank‘s long term target is 15% return on equity before taxes.
It is estimated that net fee and commission income will be 65% of net operating income, net interest income will be 27% and other income 8%. It is estimated that the split of net fee and commission income between Kvika‘s divisions will be 53% asset management, 16% capital markets, 14% banking, 10% corporate finance and 7% other.
It is estimated that total assets will amount to ISK 101 billion at year end 2020.
The bank‘s earnings can deviate from this plan, for example due to market conditions.
