Disclosure Of Material Accounting Policy Information [Text Block]

Føroya Banki P/F - Filing #5889189

Concept	2024-01-01 to 2024-12-31
Disclosure of material accounting policy information [text block]	1. Basis of preparation
Description of accounting policy for cash flows [text block]	4. Cash flow statement
Description of accounting policy for expenses [text block]	12) Other operating expenses
Description of accounting policy for fair value measurement [text block]	7) Fair value adjustments
Description of accounting policy for financial guarantees [text block]	Impairment charges
Description of accounting policy for financial instruments at fair value through profit or loss [text block]	C) Fair value of financial instruments
Description of accounting policy for financial liabilities [text block]	2) Classification
Description of accounting policy for impairment of assets [text block]	11) Depreciation and impairment of intangible assets, property, plant and equipment
Description of accounting policy for impairment of financial assets [text block]	13) Impairment charges on loans and advances etc.
Description of accounting policy for insurance contracts and related assets, liabilities, income and expense [text block]	4) Assets under insurance contracts
Description of accounting policy for loans and receivables [text block]	2. Balance sheet — Assets
Description of accounting policy for intangible assets other than goodwill [text block]	7) Intangible assets
Description of accounting policy for interest income and expense [text block]	2) Interest income and expenses
Description of accounting policy for offsetting of financial instruments [text block]	6) Offsetting
Description of accounting policy for provisions [text block]	8) Provisions
Description of accounting policy for segment reporting [text block]	5) Segment information
Description of accounting policy for subsidiaries [text block]	4) Consolidation
Description of accounting policy for treasury shares [text block]	11) Own shares