Kvika‘s Board of Directors has approved the bank‘s earnings forecast for the year 2020.
According to the forecast, profit before taxes will amount to ISK 2,300 - 2,700 million and return on equity before taxes will be 15% - 18%. The bank‘s long term target is 15% return on equity before taxes.
It is estimated that net fee and commission income will be 65% of net operating income, net interest income will be 27% and other income 8%. It is estimated that the split of net fee and commission income between Kvika‘s divisions will be 53% asset management, 16% capital markets, 14% banking, 10% corporate finance and 7% other.
It is estimated that total assets will amount to ISK 101 billion at year end 2020.
The bank‘s earnings can deviate from this plan, for example due to market conditions.