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Last kr130.00 DKK
Change Today +5.50 / 4.42%
Volume 6.8K
BNORDIK On Other Exchanges
As of 11:00 AM 08/4/15 All times are local (Market data is delayed by at least 15 minutes).

banknordik p/f (BNORDIK) Snapshot

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06/24/15 - kr131.00
52 Week Low
11/10/14 - kr96.50
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banknordik p/f (BNORDIK) Details

BankNordik P/F provides financial services for individual, commercial, and corporate customers in the Faroe Islands, Denmark, Iceland, and Greenland. The company operates through Banking, Non-Life Insurance, and Other segments. It offers retail, corporate, and investment banking services; asset management services; non-life insurance products, such as property and casualty products; and real estate agency services, as well as pension products. The company operates 22 banking branches. BankNordik P/F was founded in 1906 and is headquartered in Tórshavn, Denmark.

504 Employees
Last Reported Date: 04/29/15
Founded in 1906

banknordik p/f (BNORDIK) Top Compensated Officers

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Executives, Board Directors

banknordik p/f (BNORDIK) Key Developments

BankNordik To Sell Stake In Icelandic Insurer, Vorour

BankNordik P/F is planning to sell its 51% stake in Vörður tryggingar hf and Vörður líftryggingar hf. Janus Petersen, Chief Executive Officer of BankNordik said, "BankNordik increases its focus on dividend payments to the shareholders by improving the profitability and free capital from non-strategic business areas. Amongst others a process for the sale of the bank's Icelandic insurance companies is, therefore, being initiated". Due to restrictions valid until the end of June 2017 on the sale of 49% of BankNordik's shares in Vorour Tryggingar hf. and Vorour Liftryggingar hf., a sale of this minority stake will most likely be postponed until a later date. BankNordik has appointed Icora Partners to manage the sales process and to contact potential buyers.

BankNordik P/F Reaffirms Earnings Guidance for the Full Year 2015

BankNordik P/F reaffirmed earnings guidance for the full year 2015. For the year, the company maintains its full-year guidance and expects to generate profit before impairment charges, non-recurring items, value adjustments and tax of DKK 200 million - DKK 240 million for the full year 2015.

BankNordik P/F Reports Unaudited Consolidated and Parent Earnings Results for the First Quarter Ended March 31, 2015; Reaffirms Earnings Guidance for 2015; Reports Impairment Charges for the First Quarter of 2015

BankNordik P/F reported unaudited consolidated and parent earnings results for the first quarter ended March 31, 2015. For the quarter, the company reported interest income of DKK 150.5 million compared to DKK 164.823 million a year ago. Net interest income was DKK 125.504 million compared to DKK 132.877 million a year ago. Profit before tax was DKK 63.979 million compared to DKK 30.702 million a year ago. Net profit attributable to shareholders of company was of DKK 51.739 million or DKK 5.25 per diluted share compared DKK 24.124 million or DKK 2.45 per diluted share a year ago. Cash flow used in operations was DKK 50.916 million compared to cash flow from operations of DKK 499.705 million a year ago. Acquisition of tangible assets was DKK 10.922 million compared to DKK 87.777 million a year ago. Return on equity after tax was 2.6% compared to 1.1% a year ago. Book value per share was DKK 206 as on March 31, 2015 compared to DKK 217 as on March 31, 2014. Operating income was DKK 182 million compared to DKK 187 million a year ago. Operating profit was DKK 18 million compared to DKK 28 million a year ago. The decline in operating income is driven by lower insurance income in the first quarter 2015 compared to fourth quarter 2014 caused by seasonal variation and higher claims in Iceland. On parent basis, the company reported interest income of DKK 147.346 million compared to DKK 161.737 million a year ago. Net interest income was DKK 122.279 million compared to DKK 129.646 million a year ago. Profit before tax was DKK 64.475 million compared to DKK 32.197 million a year ago. Net profit was of DKK 51.739 million or DKK 5.25 per diluted share compared DKK 24.124 million or DKK 2.45 per diluted share a year ago. Management retains its full-year 2015 guidance for pre-tax profit before value adjustments and impairments to be in the range of DKK 200 million to DKK 240 million. The company reported impairment charges on loans and advances etc. of DKK 22.338 million compared to DKK 29.740 million a year ago.


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