Íslandsbanki 1Q23 Financial Results 2023

Íslandsbanki reported solid 1Q23 financial results with ROE of 11.4% and cost-to-income ratio of 42.1%, demonstrating strong revenue generation amid challenging market conditions. The bank achieved 34.9% growth in deposits from customers and maintained strong asset quality with NPL ratio of 1.7%. CET1 capital target was updated to a 100-300bp buffer on top of regulatory requirements.