Realurin reports 39 million kroner profit

Føroya Realkreditstovnur, commonly known as Realurin, reported a profit of more than 39 million kroner last year, according to KVF.

The institution’s main business is providing financing for vessels in the Faroese fleet. At the end of last year, it had loans outstanding worth 1.1 billion kroner. The largest groups of borrowers operate supply vessels, cargo ships, factory trawlers, and trawlers and purse seiners.

Realurin issued new loans worth 208 million kroner last year.

69 million kroner in losses recognised

Its 2025 annual report states that Realurin recognised total losses of 69 million kroner over the past five years. Almost the entire amount, 62 million kroner, was recognised as a loss in 2024.

Realurin’s purpose is to provide loans secured against fishing vessels, cargo ships, passenger ships, floating units, vessels in the offshore industry, and fish-farming facilities based in the Faroe Islands.

The institution’s equity now stands at 1.018 billion kroner. Realurin expects a profit of approximately 45 million to 50 million kroner in 2026 before write-downs and tax.