KVIKA Kvika banki hf

Kvika banki hf.: Letter of intent for the purchase of Netgíró hf.

Kvika banki hf.: Letter of intent for the purchase of Netgíró hf.

Kvika has signed a letter of intent for the purchase of 80% share in Netgíró. The bank Currently owns around 20% share in the company and will therefore, if the purchase goes through, become the sole owner of the company.

The purchase of Netgíró is in line with the bank's policy to use technological solutions to modernize financial services. Netgíró has focused the development of credit ratings as well as offering simple installment payments. The bank has previously successfully launched the fintech service Auður.    

Kvika has had a successful collaboration with Netgíró in the past years, including financing of the company's claims. The purchase will enable the bank to further strengthen the collaboration with the company which will lead to increased efficiency and optimization for both parties. Netgíró currently operates in almost 3,000 local shops and over 68,000 individuals use the company's services.

The letter of intent is subject to various reservations, such as the approval of Kvika's board of directors, the conclusion of a due diligence and the approval of the relevant authorities. It is estimated that a purchase agreement will be signed within three months.

The purchase will not affect the bank's earnings forecast for the year but it is the aim that the purchase will have positive long term effects.

Marinó Örn Tryggvason, Kvika's CEO:

„We see opportunities in Netgíró in the future as the company has a high market share and strong and experienced employees. The purchase fits well with the bank's policy in the development of financial services which is based on cost-effective technological solutions. With the bank’s strong infrastructure and financial strength behind it we believe that the company will be in a good position to grow in the future.”   

Skorri Rafn Rafnsson, chairman of the board of Alva Holding ehf., Netgíró's parent company:

“I am pleased by the letter of intent which confirms what we at Netgíró have worked towards from the establishment of the company. Outstanding employees, a clear vision for the future and hard work have made the company the place it holds today. We are confident that there are exciting times and many opportunities for growth ahead.”

EN
16/07/2020

Underlying

KVIKAKvika banki hf

To request access to management, click here to engage with our
partner Phoenix-IR's CorporateAccessNetwork.com

Reports on Kvika banki hf

 PRESS RELEASE
Free
KVIKA KVIKA BANKI HF

Kvika banki hf.: Announcement regarding reduction in share capital

Kvika banki hf.: Announcement regarding reduction in share capital At Kvika's AGM held on 18 March 2026 the meeting approved to reduce the company's share capital by ISK 301,000,000 nominal value, or the equivalent of 301,000,000 shares, from ISK 4,631,000,000 to ISK 4,330,000,000 nominal value, by cancelling own shares held by the company in the said amount, 301,000,000 shares. These are shares that the company purchased under a formal buy-back programme from last AGM. The share capital reduction has now been registed by the register of undertakings of the Directorate of internal Revenue...

March 26, 2026 1 EN
 PRESS RELEASE
Free
KVIKA KVIKA BANKI HF

Kvika banki hf.: Tilkynning um lækkun hlutafjár

Kvika banki hf.: Tilkynning um lækkun hlutafjár Á aðalfundi Kviku sem haldinn var þann 18. mars 2026 var samþykkt að lækka hlutafé félagsins um 301.000.000 kr. að nafnvirði, eða sem nemur 301.000.000 hlutum, úr 4.631.000.000 kr. í 4.330.000.000 kr. að nafnvirði, með ógildingu eigin hluta félagsins að 301.000.000 hlutum. Um er að ræða hluti sem voru keyptir samkvæmt formlegri endurkaupaáætlun frá síðasta aðalfundi. Hlutafjárlækkunin hefur nú verið skráð hjá fyrirtækjaskrá Skattsins og hlutafé félagsins stendur í kr. 4.330.000.000. Eftir lækkun á bankinn 7.236.463 eigin hluti. 

March 26, 2026 1 EN
 PRESS RELEASE
Free
KVIKA KVIKA BANKI HF

Kvika banki hf.: Decisions of AGM

Kvika banki hf.: Decisions of AGM The Annual General Meeting of Kvika banki hf. was held on 18 March 2026 at Iceland Parliament Hotel. Attached are the main results of the meeting. Attachment

March 18, 2026 1 EN
 PRESS RELEASE
Free
KVIKA KVIKA BANKI HF

Kvika banki hf.: Niðurstöður aðalfundar

Kvika banki hf.: Niðurstöður aðalfundar Aðalfundur Kviku banka hf. var haldinn 18. mars 2026 á Iceland Parliament Hotel við Austurvöll. Meðfylgjandi eru helstu niðurstöður fundarins. Viðhengi

March 18, 2026 1 EN
 PRESS RELEASE
Free
KVIKA KVIKA BANKI HF

Kvika banki hf.: Transaction in relation to a share buy-back programme...

Kvika banki hf.: Transaction in relation to a share buy-back programme - buy back is completed In week 12 Kvika banki hf. („Kvika“ or „the bank“) purchased 4,669,083 of its own shares at the purchase price ISK 85.693.494. See further details below: DateTimeNo. of shares purchasedShare price (rate)Purchase price16.3.202614:04:14 2,700,000    18,50 49,950,000    17.3.202611:29:28 1,000,000    18,30 18,300,000    18.3.202613:41:07 969,083    18 17,443,494    Total 4,669,083 85,693,494 The trade is in accordance with Kvika‘s buyback programme, announced on 20 February 2026, based on the author...

March 18, 2026 1 EN

ResearchPool Subscriptions

Get the most out of your insights

Get in touch