Iceland

Arion Bank: Q1 21 – Highest result in 4 years, with more buy-backs to come

  • Stronger revenues and provisions releases were key drivers of the positive Q1 result. Cost discipline remains firm

  • Iceland’s economic activity should pick up in Q3 as tourists return, providing further tailwinds to profit growth

  • Buy-back programme could be accelerated if financial performance remains strong. Regulators likely to loosen reins in H2

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Rahul Shah @ Tellimer Research
May 7th, 2021
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