Føroya Banki P/F - Fyrirtækjafréttir

Føroya Banki still on exspansion course in Denmark

Announcement 23/2009

In collaboration with Lån og Spar Bank, Føroya Banki made an offer to Finansiel
Stabilitet A/S regarding acquisition of significant parts of Fionia Bank A/S.
However, Finansiel Stabilitet has announced that the bank is being sold to
another party. 

As one of the ten largest banks in Denmark - measured on market value - Føroya
Banki is continuously exploring the possibilities of actively participating in
the expected consolidation of the Danish banking sector. 
The Bank's focus on this is in concordance with the growth strategy announced
by the Bank in connection with the floatation in 2007, which has been the
indicator of the Bank's development ever since. As part of this strategy, the
Bank intends to increase its assets outside of the Faroes, where the Bank holds
a market share in excess of 40%. 

-- We have had healthy earnings for many years, that is why we have the
financial strength to make fulll use of the present opportunities in the Danish
banking sector. However, we are prepared to be patient and wait for the right
opportunity. We will continue to focus on servicing retail and small to medium
corporate customers and emphasise low credit risk, as we do in our home market,
Janus Petersen, CEO of Føroya Banki says. 

Føroya Banki is among the best consolidated financial institutions in the North.


Further information:
Janus Petersen, CEO, tel. (+298) 330 340