Aktieanalys

Føroya Banki: Guidance upgrade amid solid core performance - Nordea

Nordea Publicerad: 20 Aug 07:27

On 19 August 2024, Føroya Banki raised its 2024 net profit guidance range to DKK 250-280m (previously DKK 225-255m). The upgrade was driven by an improved outlook for its core operations, according to the bank. This includes solid growth in lending and deposit volumes, strong investment portfolio earnings and solid asset quality. We lift 2024E net profit by 5% to DKK 272m. This increase is mostly driven by a cut to 2024E loan losses and hiked investment portfolio returns. We also lift 2024E-26E net interest income a tad amid volume growth. Føroya Banki trades at a 2025E capital adjusted P/E of 3.8x, ~50% below Danish peers. Our new Gordon growth-based fair value range is DKK 194-237 (DKK 191-234). Marketing material commissioned by Føroya Banki.

Länk till analysen i sin helhet: https://research.nordea.com/api/reportfileapi?id=956829

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