BankNordik is headquartered in the Faroe Islands. It holds between 40% and 50% of the market. The bank also has a small (but fast growing) operation in Greenland. It operates its own non-life insurance company in the Faroe Islands. BankNordik’s dividend policy is to pay out 50%-70% of net profits while it targets a CET1 ratio of 20% by 2024.
Weaker than expected asset quality, weaker than expected pre-provisioning earnings trend and regulation (capital requirements, taxes etc.).