Kvika banki hf.: Results of a Supervisory Review and Evaluation Process (SREP) of Kvika‘s capital requirement

Kvika banki hf. (“Kvika”) has been notified of the results of the Supervisory Review and Evaluation Process (SREP) carried out by the Financial Supervisory Authority of the Central Bank of Iceland on the assessment of the risk in Kvika’s operations and capital requirements.

Key conclusions of the assessment are that Kvika‘s total capital requirement, taking into account all capital buffers, will decrease from the current 22.6% to 17.7%, a 4.9% decrease from Kvika‘s last assessment which was completed in 2019. The decrease is mostly caused by the fact that the minimum capital requirement (Pillar 1 and 2) will amount to 11.5% of risk weighted exposures at any given time instead of 15.1%. The updated structure of capital requirements and capital buffers will be explained in more detail in Kvika‘s presentation of 9M 2022 financial results, which will be published on November 10.

Kvika's management acknowledges that the result of the assessment represents a milestone in Kvika‘s journey of diversifying operations and decreasing risk. The assessment is subject to Kvika's right to object, Kvika will now review the results in more detail and decide if there is any reason to comment.

For further information please contact Kvika‘s investor relations at

Please note that this notice is a disclosure per article 17 of MAR