Føroya Banki receives recommendations from Danish Financial Supervisory Authority after inspection

Føroya Banki has received four recommendations from the Danish Financial Supervisory Authority following a recent inspection. Among the feedback was a comment regarding the organization’s structure, described as “complex.”

In addition to the four directives, the bank has also been advised to reassess its board to ensure it has the appropriate composition.

Furthermore, the solvency requirement has been increased by 0.2 percentage points and now stands at 10.5 percent.