Arion Bank: Q3 22 preview – Robust core revenues but net financial income once again drags
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We see ISK6,082mn net profit (-26% yoy), with core revenues rising 24% and operating costs up 10%. Buybacks are ongoing
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Net financial income will once more be in the red, dragging on the bottom line and lifting the effective tax rate
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Credit risk costs remain modest, given the healthy macro backdrop. Business volumes from corporates are still strong
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