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Arion Bank reports profit decline to 9.9 billion krónur in Iceland

Thursday 25th 2024 on 18:43 in  
Iceland

Arion Bank reported a profit of 9.9 billion krónur for the first half of the year, reflecting a significant decline compared to the 13.4 billion krónur profit recorded in the same period last year. The bank’s return on equity fell from 14.5 percent to 10.2 percent, with earnings per share decreasing from 9.17 krónur to 6.92 krónur.

Core income for the bank diminished by 1 percent year over year, which includes net interest, fees, and insurance income. Operational costs increased by 9.8 percent, driven in part by a fine of over half a billion krónur that the bank had to pay as part of a settlement with the Financial Supervisory Authority.

Source 
(via ruv.is)