Performance of Lykill fjármögnun hf. in the first half of 2018
The Board of Directors of Lykill fjármögnun hf. approved the interim financial statements for the first six months of 2018 on 22 August 2018.
The key figures of the interim financial statements are:
Total income amounted to 1,009 million ISK and increased by 6% from the same period in 2017.
Interest income during the period increased by 147 million ISK from the same period last year, in line with the increase in interest-bearing assets. Interest expenses increased by 178 million ISK due to increased securities and bill issuance plus a foreign loan was paid down in accordance with the terms of the loan agreement. Net interest income decreased by 31 million ISK.
Operating expenses amounted to 601 million ISK and increased by 15% from the same period last year, which is mainly explained by increased activity.
Net impairment was positive by 598 million ISK which is a 148% increase from the same period in 2017.
Profit for the period, before income tax, was 817 million ISK which is a 67% increase between periods.
Return on equity was 13.2% on an annualized basis.
Total assets at the end of the period were 32,777 million ISK and increased by 998 million from 31.12.2017, or 3.1%. The increase was 3,499 million ISK from the same period 2017, or 12%.
Equity at the end of the period was 13,201 million ISK.
The capital adequacy ratio (CAD) at the end of period was 42,1%.
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