Føroya Banki (previously BankNordik): Still a lot to go for - Nordea
Føroya Banki (previously BankNordik) will publish its Q1 2024 report on 2 May. We make no P&L revisions ahead of the report and maintain our full-year 2024 net profit estimate of DKK 267m, which is above the bank's DKK 225-255m guidance range. Despite a temporary hiccup in the solid capital distribution story, caused by the Danish FSA investigation, we expect significant payouts to resume shortly, considering the bank's 2024 CET1 target of 20% (Q4 2023 reported: 25.8%). Føroya Banki is trading at a 2025E excess capital-adjusted P/E of ~4x, corresponding to a discount versus its Danish peers of around 50%. Marketing material commissioned by Føroya Banki.
Länk till analysen i sin helhet: https://research.nordea.com/api/reportfileapi?id=927238