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    KVIKA   IS0000020469

KVIKA BANKI HF.

(KVIKA)
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Kvika banki : publishes a green financing framework for the first time

10/12/2021 | 09:22am EST

Kvika has issued a Green Financing Framework, which frames the Bank´s policy on green financing and lending. The Green Financing Framework describes, among other things, the Bank´s sustainability policy, Kvika´s sustainability governance, and how funds are to be allocated to finance or re-finance green projects, including environmentally friendly lending.

Financing under the Framework may include the issuance of green financing instruments, such as (but not limited to) green bonds and deposits. Kvika recently issued green deposit accounts under the terms of the Framework for children under the age of 18 years old, which are called Green Future Accounts. The Green Financing Framework clearly and transparently describes the conditions that must be met for lending to be considered environmentally friendly. Such lending can include energy transformation towards sustainability in transport and clean transport; green certified buildings; and renewable energy.

"The most important task of our time is sustainability. The future is of great importance to us all, as we, and our descendants, will be there all our lives. It is important for financial institutions, like others, to contribute to the fight against climate change. It is therefore extremely gratifying to now be able to present Kvika´s Green Financing Framework, which enables the bank to increase its efforts in green financing and lending, and by such means support sustainability and contribute to the fight against climate change." Says Marinó Örn Tryggvason, CEO of Kvika Banki hf.

Kvika´s Green Financing Framework is based on ICMA´s latest version of the Green Bond Principles. The Framework has received a positive second party opinion from Sustainalytics, a Morningstar Company, which is a leading ESG research, ratings and data firm. The opinion states, among other things, that Kvika´s Green Financing Framework is credible and impactful, and aligns with the core components of the Green Bond Principles.

Disclaimer

Kvika banki hf. published this content on 12 October 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 12 October 2021 13:21:07 UTC.


© Publicnow 2021
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Financials
Sales 2020 8 356 M 64,4 M 64,4 M
Net income 2020 2 349 M 18,1 M 18,1 M
Net cash 2020 22 483 M 173 M 173 M
P/E ratio 2020 17,0x
Yield 2020 -
Capitalization 128 B 981 M 987 M
EV / Sales 2019 2,46x
EV / Sales 2020 1,74x
Nbr of Employees 322
Free-Float 83,8%
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Managers and Directors
Marinó Örn Tryggvason Chief Executive Officer
Ragnar Páll Dyer Managing Director-Finance & Operations
Baldur Stefansson Managing Director-Finance
Ólöf Jónsdóttir Managing Director-Operations & Development
Erna Heiðrún Jónsdóttir Head-Compliance
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