Kvika banki hf.: Preliminary fourth quarter financial results below management forecast

Preliminary consolidated financial results for Kvika banki hf. ("Kvika") for the fourth quarter of 2023 are now available and show that profit before tax for the quarter will amount ISK 1,480 million, which is below management forecast.

The results were negatively affected by one-off items amounting to ISK 230 million and an ISK 530 million special impairment of a single domestic loan exposure. In other respects, Kvika‘s operations were in line with outlook during the period.

The financial statements for 2023 are preliminary and unaudited and are subject to change until they are published. Kvika will publish its financial results for the year 2023 on 15 February 2024, after markets have closed.

Please note that this notice is a disclosure of inside information per article 17 of regulation (EU) No 596/2014 on market abuse ("MAR"), which is implemented into Icelandic law with the act on measures against market abuse No 60/2021.

For further information please contact Kvika’s investor relations at  ir@kvika.is