Føroya Banki P/F

Capital/Financing Update • Sep 13, 2019

National Storage Mechanism | Additional information

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Company announcement

Announcement no. 24/2019

BankNordik exploring the possibility of issuing Additional Tier 1 capital

BankNordik has decided to explore the possibility of issuing Additional Tier 1 capital in the amount of DKK 100-150m as part of the ongoing efforts to optimize the Group’s capital structure.

As such, BankNordik has given Nordea Bank Abp mandate to explore the market, arrange investor meetings and, if there is satisfactory market interest, handle the issue process together with the Bank.

Further information:

Árni Ellefsen, CEO, tel. (+298) 230 348

Carl Herup Olsen, Investor Relations, tel. (+298) 230 467

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 17.7bn and 390 employees. The Bank is subject to the supervision of the Danish Financial Supervisory Authority and is listed on Nasdaq Copenhagen.