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Silicon Valley Bank, the 16th largest bank in the US, went bankrupt last week
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Faroese bank collapse “highly unlikely”
Faroese bank collapse “highly unlikely”
Faroese banks are much more robust than American ones, says BankNordik CEO
Turið Arge, CEO of BankNordik
20.03.2023 - 06:44
Faroese banks will not end up in the same situation as e.g. Silicon Valley Bank or Credit Suisse, according to BankNordik CEO Turið Arge.
“Banks face increased risks in periods with high interest rates and high inflation, but we have been working hard since the 2008 financial crisis to protect ourselves against such risks,” she says.
“Our clients have no reason to fear that Faroese or Danish banks will experience the same troubles that Silicon Valley Bank and Credit Suisse have been going through.”
Read the Faroese version of this article here.
More Faroese News in English.
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