{"url":"https://newsforagent.com/news/2026-11-04/kvika-q3-2026-financial-results","markdown_url":"https://newsforagent.com/news/2026-11-04/kvika-q3-2026-financial-results.md","title":"Kvika Q3 2026 Profit Falls 10.9% to ISK 1,754 Million","headline":"Kvika Posts ISK 1,754 Million Pre-Tax Profit as Return on Tangible Equity Hits 18.9%","description":"Kvika's Q3 2026 pre-tax profit fell 10.9% to ISK 1,754 million, while return on tangible equity rose to 18.9% and deposits grew 16% to ISK 200 billion.","section":"Earnings & Results","published_at":"2026-11-04T15:52:14+00:00","modified_at":"2026-11-04T15:52:14+00:00","author":"News Desk","key_takeaways":["Kvika's pre-tax profit from continuing operations fell 10.9% year-on-year to ISK 1,754 million in Q3 2026.","Pre-tax return on tangible equity reached 18.9% in the quarter, up from 17.8% a year earlier.","Deposits from customers rose 16.0% to ISK 200 billion and loans grew 13.2% to ISK 235 billion from year-end 2025."],"companies":[{"name":"Kvika","is_primary":true,"profile_url":"https://akta.pro/company-profiles/00038v5/kvika","website":"https://www.kvika.is"}],"source":{"publisher":"TradingView","title":"Kvika banki hf.: Financial Results for Q3 2026","url":"https://www.tradingview.com/news/globenewswire:b6f451865094b:0-kvika-banki-hf-financial-results-for-q3-2026/"},"other_sources":[],"tags":["Earnings & Results","Kvika"],"body_markdown":"[Kvika](https://akta.pro/company-profiles/00038v5/kvika) banki hf. reported pre-tax profit from continuing operations of ISK 1,754 million for the third quarter of 2026, down 10.9% from ISK 1,969 million a year earlier, according to [TradingView](https://www.tradingview.com/news/globenewswire:b6f451865094b:0-kvika-banki-hf-financial-results-for-q3-2026/). The board approved the interim consolidated statements at a meeting on November 4, 2026.\n\n## Kvika's Q3 Profit and Lending Growth\n\nPost-tax profit from continuing operations was ISK 1,342 million, down 8.8% from ISK 1,472 million in Q3 2025. Net interest income rose 3.4% to ISK 3,052 million, while net fee and commission income fell 12.2% to ISK 1,380 million. Administrative expenses were ISK 2,807 million, up 2.4%.\n\nPre-tax return on tangible equity from continuing operations was 18.9%, compared with 17.8% a year earlier. Earnings per share from continuing operations were ISK 0.31, compared with ISK 0.33.\n\nAt September 30, 2026, deposits from customers were ISK 200 billion, up 16.0% from year-end 2025, and loans to customers were ISK 235 billion, up 13.2%. Total assets were ISK 370 billion and total equity was ISK 58 billion. The capital adequacy ratio was 22.3%, compared with 26.8% at year-end 2025, and the liquidity coverage ratio was 174%, compared with 404%.\n\nFor the first nine months of 2026, pre-tax profit from continuing operations was ISK 5,108 million, up 8.8% from ISK 4,695 million in the same period of 2025. Post-tax profit rose 16.9% to ISK 3,619 million.\n\nCEO Ármann Þorvaldsson said: \"I am happy to see that the bank has reached the point where its operations are delivering returns in line with our targets.\" He said the quarter's return was the highest since the third quarter of 2024 and followed distributions to shareholders through dividends and share buybacks.\n\n## Kvika's Funding and Cost Measures\n\nKvika is an Icelandic commercial and investment bank founded in 2015 and headquartered in Reykjavík, offering retail and corporate lending, securities and FX trading, advisory, asset management and payment infrastructure, with a UK lending subsidiary, according to [akta.pro company records](https://akta.pro/company-data).\n\nThe same records show a EUR 150 million issue of four-year senior preferred notes in June 2026 at a 4.375% coupon, maturing in June 2030 and listed on Euronext Dublin. Kvika also implemented cost measures in June 2026 that reduced 18 full-time positions, including 11 redundancies, targeting about ISK 400 million in annual savings against about ISK 100 million in one-off costs.\n\n## Buybacks and Covered Bond Listing Before the Results\n\nKvika purchased 14 million shares in week 44 for ISK 189.45 million, bringing total buybacks to 82.57 million shares, or 1.907% of issued shares, under a programme capped at ISK 1.54 billion or 165.5 million shares with a deadline of April 30, 2027, TradingView reported on November 2, 2026.\n\nOn October 23, 2026, Kvika listed its first covered bond issue, KVIKA CB 32, on Nasdaq Iceland's main market, totaling ISK 6.42 billion with a 7.74% annual coupon, The future of trading reported.\n\n## CEO Transition and Bank Tax Bill\n\nJón Birgir Jónsson was appointed CEO on September 13, 2026, effective December 1, replacing Ármann Þorvaldsson, AInvest reported. Þorvaldsson said he wishes Jón every success in his new role.\n\nA presentation for shareholders and market participants is scheduled for November 5, 2026, at 08:30 at Kvika's headquarters, where Þorvaldsson and CFO Eiríkur Magnús Jensson will present the results. A bill to increase the bank tax is before parliament, and Kvika has submitted proposals to the Economic Affairs and Trade Committee for amendments.\n","publisher":{"name":"News for Agent","url":"https://newsforagent.com"}}