Iceland

Arion Bank: From capital distribution to capital build

  • Arion Bank has returned ISK87bn to shareholders over the past c3 years, equivalent to 44% of its market capitalisation

  • The current buy-back programme is likely to be the last. Ratings agencies want the firm to re-build its capital ratios

  • We lower our forecasts for the new environment and cut our fair value estimate to ISK140 per share

https://cdn.tellimer.com/providers/tellimer-avatarpng.png
May 19th, 2023
Subscribe to read this report

You can read this report by subscribing to a Starter or Pro plan today.

Already have an account? Log in

Disclosures

This report was commissioned by the company, sovereign or issuer that is the subject of the report. However, it was prepared by Tellimer the same way as independent investment research as contemplated by COBS 12.2 of the FCA Handbook and is a research recommendation under COBS 12.4 of the FCA Handbook. Where it is not technically a research recommendation because the subject of the research is not listed on any European exchange, it has nevertheless been treated in its preparation by Tellimer as a research recommendation to ensure consistent treatment of all Tellimer's research. This report has been produced by the analyst(s) named above (the "Analyst").

The Analyst certifies that the views and forecasts expressed in this report accurately reflect their personal views about the subject, securities, or issuers specified herein. In addition, the Analyst certifies that no part of their compensation was, is, or will be directly related to the specific recommendations or views expressed in this report.

This research is produced by a third party. The Tellimer team has had no editorial input into the content of the note.