Kvika’s pre-tax profit amounted to ISK 1,412 million in Q1 2023, in line with expectations despite net investment income considerably under expectations. Return on tangible equity before taxes (RoTE) was 13.1% in the period.
Merger discussions between Íslandsbanki hf. and Kvika banki hf. are proceeding. As has been reported previously, discussions began in February, following approval by the board of directors of both companies. The companies’ boards believe that the merger can bring significant benefits to shareholders and customers of both.
Refined Brands, the digital ethical fashion group founded in 2021, has successfully completed three new acquisitions in the ethical fashion space in recent months, furthering Refined Brands' commitment to creating a positive impact on people and the planet through sustainable and responsible business practices.
At a board meeting on 15 February 2023, the Board of Directors and the CEO approved the consolidated financial statements of Kvika banki hf. for the year 2022.