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2017-12-08 09:00:00 CET 2017-12-08 09:00:07 CET REGULATED INFORMATION BankNordik P/F - Other information disclosed according to the rules of the ExchangeThe Danish FSA’s ordinary inspection of BankNordikCompany announcement no. 10/2017
BankNordik has received the Danish FSA’s ordinary inspection report on the Group’s business activities in the Faroe Islands, Denmark and Greenland. The inspection took place during August and September 2017 and the summary is attached to this announcement. Those of the Danish FSA’s commands, which had a direct effect on the Group’s earnings and capital, have already been recognised in the Group’s Q3-2017 interim financial statements. In this regard, BankNordik would like to highlight the following:
BankNordik has been designated as a SIFI-institute in the Faroe Islands, and as mentioned in the FSA’s report, additional capital requirements are currently being phased-in. Moreover, the Group’s MREL-requirements are expected to be decided and announced in the coming year. As previously stated, BankNordik will re-evaluate its capital ratio targets once the requirements related to the MREL will become known.
For additional information, please contact: Árni Ellefsen, CEO, tel. (+298) 230 348
BankNordik has banking activities in Denmark, Greenland and the Faroe Islands and insurance activities in the Faroe Islands. Founded in the Faroe Islands more than a century ago, the Group has total assets of DKK 16.1bn and 407 employees. The Bank is subject to the supervision of the Danish Financial Supervisory Authority and is listed on Nasdaq Copenhagen.
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