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Iceland's Kaupthing says 1st-quarter profit rose 8 percent

Iceland's Kaupthing says 1st-quarter profit rose 8 percent

Iceland's Kaupthing Bank said Thursday that first-quarter earnings rose 8 percent after the company boosted net interest income.
Net profit in the three months through March rose to 20.3 billion Icelandic krona (US$380.6 million; euro279 million), up from 18.8 billion krona, the company said in a statement.
Net interest income rose 55 percent to 16.3 billion krona (254.7 million; euro186.7 million).
"We have made a good start to the year and all the bank's main offices have delivered solid results," said Chief Executive Hreidar Mar Sigurdsson. "Interest income and commission income have increased sharply."
Kaupthing operates in ten countries, including all the Nordic countries, Luxembourg, Switzerland, the U.K. and the U.S.
The shares fell 1.7 percent to 1,066 krona (US$16.66; euro12.21) in Reykjavik.


Updated : 2021-10-21 11:29 GMT+08:00