Kvika banki hf. (ICSE:KVIKA) signed a letter of intent to acquire the remaining 80% stake in Netgíró hf. from Alva ehf. on July 16, 2020. Post the completion of the transaction, Kvika will become the sole owner of Netgíró. The letter of intent is subject to various reservations, such as the approval of Kvika's Board of Directors, the conclusion of a due diligence and the approval of the relevant authorities. It is estimated that a purchase agreement will be signed within three months. The purchase will not affect the Kvika’s earnings forecast for the year but it is the aim that the purchase will have positive long term effects. Kvika banki hf. (ICSE:KVIKA) completed the acquisition of remaining 80% stake in Netgíró hf. from Alva ehf. on January 22, 2021.