Glitnir Bank - News Room

Íslandsbanki is back!

Mon, 06 Apr 2009 16:01:43 GMT

As of today, New Glitnir becomes Íslandsbanki. The change in name was formally announced at a press conference today at the bank's headquarters at Kirkjusandur. The proposed change of name was first introduced in December last year.

Glitnir banki hf ("Old Glitnir")

Fri, 24 Oct 2008 15:07:55 GMT

The Resolution Committee of Old Glitnir are pleased to announce the appointment of the UK limited liability partnership of Deloitte & Touche LLP ("Deloitte") to assist with the communication and consultation with all remaining creditors of Old Glitnir including its international branches, following the transfer of all of Old Glitnir's deposits in Iceland into New Glitnir Bank hf, as announced on 15 October 2008.

Financial crises have a beginning and an end

Thu, 07 May 2009 13:21:40 GMT

Glitnir Research has published a report on the prospects for the Icelandic economy following the current financial and currency crisis. The report also tries to address what implications are inherent in the possible involvement of the IMF.

A New Glitnir Assumes Operations

Wed, 15 Oct 2008 12:32:30 GMT

Birna Einarsdóttir appointed CEO

The new bank will take over Glitnir‘s domestic assets to ensure normal banking activities and secure domestic deposits
A total of a 95 employees in Iceland will be made redundant
Glitnir‘s international operations will be separated from the new bank's operations
All branches, service centres, ATMs and Glitnir's online banking will remain open

An announcement from Glitnir Bank

Wed, 08 Oct 2008 19:35:35 GMT

In light of the situation that has arisen in financial markets Glitnir would like to state the following:
Last Monday, the country's parliament passed an emergency law due to special circumstances in the financial market (Act 128/2008).

Glitnir's Operations Continued

Fri, 20 Feb 2009 07:08:25 GMT

No changes in daily operations
Lárus Welding to continue as CEO

Glitnir Bank issues profit warning

Wed, 01 Oct 2008 18:31:34 GMT

On 29 September the Board of Directors of Glitnir Bank agreed to call for a shareholders' meeting at the earliest possible date.

Uncertainty eliminated

Wed, 01 Oct 2008 12:12:02 GMT

Glitnir has decided to open for transactions in funds that have been closed since Monday. The funds were closed due to uncertainty in the market and in order to protect the interest of 18,000 fund members. Glitnir's funds now contain no shares in Stodir hf.

The government of Iceland acquires 75 percent share in Glitnir Bank

Tue, 30 Sep 2008 17:50:11 GMT

The government of Iceland has announced that it will acquire a 75% stake in Glitnir Bank at the price of 600 million euros. The Board of Directors and largest shareholders of Glitnir have accepted the offer subject to the approval of a shareholders' meeting.

Seafood team in S. America strengthens

Wed, 24 Sep 2008 21:59:28 GMT

Glitnir has recruited two new business directors for Chile and Peru to be based in Santiago and Lima respectively. Glitnir thereby strengthens its global network of expertise within the seafood industry.

Negotiations between Glitnir and Byr Savings Bank (“Byr”) in Iceland

Mon, 22 Sep 2008 09:53:33 GMT

Glitnir Bank ("Glitnir") and Byr Savings Bank ("Byr") announce that they have initiated discussions on the possible merger of the two companies.

Full House at Glitnir's Economic Forecast Open Meeting

Wed, 17 Sep 2008 12:15:12 GMT

Almost 800 people attended an open meeting presenting Glitnir‘s economic forecast for the Icelandic economy hosted by Glitnir Research Iceland today, September 17th.

ASG acquire the Alaskan Pollock assets of Yardarm Knot, Inc

Mon, 18 Aug 2008 15:13:04 GMT

Glitnir advised Seattle-based American Seafoods Group ("ASG") on the acquisition of the Alaskan Pollock assets of Yardarm Knot, Inc. Both ASG and Yardarm Knot operate in the U.S. Bering Sea.

Public-to-private transaction of Clearwater Seafoods Income Fund

Sat, 16 Aug 2008 20:43:33 GMT

Glitnir has provided a suite of services to Halifax-based Clearwater Fine Foods, Inc ("CFFI") and its partners in their offer to take-private Toronto Stock Exchange listed Clearwater Seafoods Income Fund (the "Fund"), the controlling entity of Clearwater Seafoods Limited Partnership .

Glitnir Second Quarter 2008 Results

Fri, 29 Aug 2008 13:57:30 GMT

1H 08 profit before tax ISK 15.4 bn. (EUR 121m)
Total recognised earnings in equity ISK 40 bn. in 1H 08
Strong liquidity position of EUR 8.1 bn.

Glitnir Bank announces financial results for Q2 2008

Wed, 30 Jul 2008 21:22:30 GMT

Glitnir will host the following presentations and webcasts in connection with the publication of the Group's results for the first half of 2008. An English version of the presentation will be available at www.glitnirbank.com on the morning of Friday August 1st from 7:30 a.m. (8:30 GMT).

Geothermal Energy on the Agenda in New York

Tue, 02 Sep 2008 16:48:45 GMT

The President of Iceland, DOE Assistant Secretary Alexander Karsner, and Dan Reicher, Director of Google.org Climate Change Initiative, speaking at a Geothermal Renewable Energy Workshop organised by Glitnir and GEA.

Save&Save - Glitnir launches a new international deposit product

Tue, 29 Jul 2008 15:31:05 GMT

Nobel Peace Prize laureate Dr. Rajendra Pachauri joins the Board of Glitnir's Sustainable Future Fund.

Glitnir Bank has announced the launch of "Save&Save", a unique deposit product which the Bank will offer to customers in its two main markets of Iceland and Norway.

Glitnir being recognized for its Geothermal Energy Activities

Tue, 29 Jul 2008 15:31:05 GMT

Glitnir Bank made 2nd place for the “Sustainable Deal of the Year” at Financial Times Sustainable Banking awards, which were presented at an award ceremony in London Tuesday evening. Among speakers was the Mayor of London, Boris Johnson and Barcleys Chairman, Marcus Agius.

Equilibrium reached in two-year stagnation period

Tue, 29 Jul 2008 15:31:05 GMT

Glitnir Research’s macroeconomic forecast
A two-year period of stagnation has begun in the Icelandic economy, a period when the economy will reach equilibrium after rapid economic growth and overheating in recent years. We forecast negligible economic growth this year and next year as inflation subsides and the current account deficit narrows.

Glitnir aligns its operation to a changed market environment

Tue, 29 Jul 2008 15:31:05 GMT

Organisational layoffs in Iceland completed.

New members to Executive Management Board

Tue, 29 Jul 2008 15:31:05 GMT

Glitnir has appointed six key managers to the Bank's Executive Management Board.

Successful covered bond issue in Norway

Tue, 29 Jul 2008 15:31:04 GMT

Glitnir Bank ASA issues covered bonds for NOK 7 billion (approximately EUR 900m) in the Norwegian Market

Fitch changes long and short-term credit rating

Tue, 29 Jul 2008 15:31:04 GMT

Fitch Ratings Services announced today that it has lowered its long-term counterparty credit ratings on Glitnir Bank from A to A-, with a negative outlook and as a result the short-term rating is lowered from F1 to F2 with a stable outlook. The B/C individual rating was confirmed.

Glitnir Bank first quarter results for 2008

Tue, 29 Jul 2008 15:31:04 GMT

ISK 7.7 billion (EUR 76m) profits before tax
Total recognised income in equity ISK 28.4bn (EUR 280m)
Strong liquidity position EUR 8.7

Interview with Glitnir CEO Lárus Welding on CNBC Europe

Presentation of First Quarter Results

Wed, 07 May 2008 08:00:07 GMT

Glitnir will publish its first quarter results for 2008 on Wednesday May 7th. A presentation for shareholders and market participants will be held on the same day, May 7th, at Hilton Reykjavík Nordica in Reykjavik.

Glitnir Securities raises EUR 56 million in Noreco’s private placement

Tue, 29 Jul 2008 15:31:04 GMT

Glitnir Securities and Pareto Securities AS acted as joint lead managers in the private placement for 19,149 million new shares on Friday. The private placement was substantially over-subscribed. The subscription price was set to NOK 23.50 per share, giving gross proceeds of approximately EUR 56 million (NOK 450 million).

Glitnir on FT’s short-list for Sustainable Banking Awards

Tue, 29 Jul 2008 15:31:04 GMT

Glitnir was short-listed for the "Sustainable Deal of the Year" - the second year in a row! The awards, now in their third year, are to recognize banks and other financial institutions that have shown leadership and innovation in integrating social, environmental and corporate governance considerations into their operations.

Presentation of Glitnir Bank’s first quarter results

Tue, 29 Jul 2008 15:31:04 GMT

Glitnir will host the following presentations and webcasts in connection with the publication of the Group's results for the first quarter of 2008. An English version of the presentation will be available on www.glitnirbank.com as of its publication early morning on 7 May.

Larus Welding: Person of the Year 2008

Tue, 29 Jul 2008 15:31:03 GMT

Intrafish, the largest seafood newspaper in the world, has just announced that its readers have voted Lárus Welding "Person of the Year 2008". It is extremely pleasing for Glitnir and its seafood related activities that Lárus Welding, CEO of Glitnir, has received this recognition from the industry.

S&P changes Glitnir Bank’s long-term credit rating

Tue, 29 Jul 2008 15:31:03 GMT

Standard & Poor's Ratings Services announced today that it has lowered its long-term counterparty credit ratings on Glitnir Bank to BBB+ from A- with a negative outlook. At the same time the A-2 short term counterparty credit rating was affirmed. Glitnir is the only bank in Iceland rated by S&P.

Challenges in the Seafood Industry

Mon, 21 Apr 2008 11:23:18 GMT

How the current global conditions will effect the industry.
In relation to the upcoming European Seafood Exposition in Brussels, Glitnir Bank will put the effects current economic condition of the industry on the agenda.

Glitnir advises on sale of Rahbekfisk to Espersen

Tue, 29 Jul 2008 15:31:03 GMT

Glitnir Total Capital gain from their investment.

A consortium consisting of Management, JSSS ApS, and Glitnir Total Capital has sold Rahbekfisk to Espersen in Rønne, Denmark. Glitnir Corporate Finance (DK and Iceland) advised the vendors.

Senior appointment to Glitnir’s Executive Management Team and Board Change

Tue, 29 Jul 2008 15:31:03 GMT

Lárus Welding, CEO of Glitnir, has appointed Kristinn Thor Geirsson as Executive Vice President and Chief Operating Officer (COO) of the Group.

Glitnirs Head of Nordic Research, on CNBC Power Lunch

Fri, 11 Apr 2008 09:17:15 GMT

Almar Gudmundsson, Glitnir's Head of Nordic Research, was interviewed by CNBC Power Lunch today. The main topics discussed were the Icelandic Central Bank's decision to raise interest rates by 50bps., the general prospects of the Icelandic economy and the outlook for the financial sector.

Glitnir realigns its European banking operations

Tue, 29 Jul 2008 15:31:02 GMT

Glitnir will realign its corporate banking operations in Europe and exit its current commercial property financing business operated out of Luxembourg. Going forward, Glitnir Bank Luxembourg will focus on servicing its Investment Management business and customers generated out of the bank's Nordic and international operations.

Nutreco CEO Dekker to speak at Glitnir's Luncheon in Brussels

Mon, 31 Mar 2008 13:00:55 GMT

Glitnir will host its sixth annual Luncheon at the European Seafood Exposition in Brussels on 23 April. The bank is honored to present Mr. Wout Dekker, CEO of Nutreco Holding N.V. as this year´s guest speaker.

Meet Glitnir in Brussels

Mon, 31 Mar 2008 12:58:48 GMT

With Glitnir´s strategic plans to grow in niche sectors, the bank's Global Seafood team is planning a major presence in and around the European Seafood Exposition, held in Brussels April 22-24. The ESE is the world's largest seafood exposition with over 1,600 exhibiting companies from 87 countries and over 16,000 attendees.

Al Gore meeting in Reykjavik fully booked

Tue, 29 Jul 2008 15:31:02 GMT

All seats are booked for a talk with Al Gore, former Vice President of the United States of America, in Háskólabíó theatre on Tuesday, April 8th.

Glitnir and the University of Iceland host meeting with Al Gore

Mon, 31 Mar 2008 08:57:10 GMT

Al Gore, former Vice-President of the United States and Nobel Prize winner, will be the keynote speaker at an open meeting on environmental issues to be hosted by Glitnir. The meeting is organised in co-operation with the University of Iceland. Al Gore will be visiting Iceland as a guest of the President of Iceland, Ólafur Ragnar Grímsson.

S&P changes outlook for Glitnir Bank's ratings

Tue, 29 Jul 2008 15:31:02 GMT

Standard & Poor's announced today that it has placed Glitnir Bank's credit ratings on CreditWatch with negative implication. S&P affirms Glitnir current long-term and short-term ratings. Following this announcement, Glitnir Bank's ratings are long-term A-, short-term A-2. Glitnir is the only bank in Iceland rated by S&P.

Motion adopted by the shareholders´ meeting of Glitnir banki hf. on the 19th of March 2008

Tue, 29 Jul 2008 15:31:02 GMT

The following Motion of the Board of Directors of Glitnir banki hf. was adopted at the shareholders’ meeting of Glitnir banki hf. which was held on 19th of March 2008 at 9 a.m.:

Glitnir sells mandatory convertible bonds for ISK 15bn ($ 200m)

Tue, 29 Jul 2008 15:31:02 GMT

Glitnir successfully issued and sold an ISK 15bn ($200m) five year mandatory convertible bonds in a closed offering to Icelandic institutional investors, which commenced on 12 March ending yesterday.

Notice to convene a shareholders meeting in Glitnir banki hf.

Thu, 13 Mar 2008 13:29:28 GMT

In accordance with Article 7 in the Articles of Association of Glitnir banki hf. a shareholders meeting is hereby called for. The shareholders meeting will be held at the headquarters of Glitnir banki hf., Kirkjusandur 2, Reykjavík, on Wednesday 19 March 2008 at 9:00.

Glitnir issues a convertible bond, strengthens capital ratios considerably

Tue, 29 Jul 2008 15:31:01 GMT

The board of Glitnir Bank hf. has decided to issue convertible bonds. The bonds will be subordinated and count as Tier 1 capital. The total amount of the issue will be up to ISK 15 bn. The bonds will convert into Glitnir shares in 5 years time at a pre-determined rate in accordance with further terms of the bonds.

The CEO meets the Grand Master

Tue, 29 Jul 2008 15:31:01 GMT

On Sunday, Lárus Welding, CEO of Glitnir and Gudfridur Lilja Gretarsdottir, president of the Icelandic Chess Association, signed an agreement between the Chess Association and Glitnir at the National Centre for Cultural Heritage yesterday.

Glitnir to hit it big as the one of the world's foremost financers of geothermal projects

Tue, 29 Jul 2008 15:31:01 GMT

Glitnir is named as one of 10 companies that appear to have a chance to hit it big within the energy sector on the website Energy Tech Stocks. The series covers companies that, given the nature of their business and how the global energy industry is undergoing profound changes, have an extraordinary opportunity to gain from their know-how within the energy sector.

Person of the Year 2008

Tue, 29 Jul 2008 15:31:01 GMT

Intrafish - the largest seafood media in the world has just announced the nominees for the Intrafish Person of the year. It is extremely pleasing for Glitnir and its Seafood efforts to see that Lárus Welding, CEO of Glitnir, is nominated.

Glitnir rationalises its European operations

Tue, 29 Jul 2008 15:31:01 GMT

Current operations in Denmark consolidated in London

Moodys changes Glitnir's long term rating

Tue, 29 Jul 2008 15:31:01 GMT

Moody's Investors Service today downgraded Glitnir's long-term rating to A2, BFSR to C- with a stable outlook

Corrections to the financial statements for 2007

Tue, 29 Jul 2008 15:31:00 GMT

The following notes have been changed from previously presented financial statements:

Fishery Management, consumer Markets and seafood Mergers were important issues on the Future conference in Bremen

Thu, 06 Mar 2008 16:04:20 GMT

At the Fish International 2008 last week in Bremen, the Future of the Fishing Industry in Germany and in Iceland was highlighted on an industry conference.

Purchase agreement between largest shareholders in Geysir Green Energy´s and FL-Group has been reached

Tue, 29 Jul 2008 15:31:00 GMT

Agreement has been reached between FL-Group, Atorka hf., VGK Invest and Glitnir Bank concerning the purchase of FL-Groups entire stake in Geysir Green Energy.

Further information regarding the motion by the Board of Directors on allocation of profit and payment of dividend

Tue, 29 Jul 2008 15:31:00 GMT

The Board of Directors of Glitnir banki hf. has resolved to propose to the Annual General Meeting of the company on February the 20th 2008 that a dividend be paid totalling ISK 5,506 billion to shareholders in proportion to their shareholdings, or the equivalent of 19.9% of the profit for the year 2007 and 37% of the nominal value of share capital (or ISK 0.37 per share) from the after-tax profit of the operating year 2007, which amounted to ISK 27.651 billion.

Agenda and Proposals to the Annual General Meeting

Tue, 29 Jul 2008 15:30:59 GMT

Agenda and Proposals to the Annual General Meeting of Glitnir banki hf. , which will be held on 20 February 2008

Nominations to the Board of Directors of Glitnir

Tue, 29 Jul 2008 15:31:00 GMT

The deadline for nominations to the Board of Directors of Glitnir banki hf. expired at 2.00 pm, 13 February. The following persons have declared candidacy to the board of directors at the Annual General Meeting on 20 February 2008:

Annual General Meeting of Glitnir banki hf.

Tue, 29 Jul 2008 15:30:59 GMT

The Annual General Meeting of Glitnir banki hf. will be held at the Hotel Saga, Sulnasalur, on Wednesday 20 February 2008, starting at 2 p.m.

Glitnir in World Press Photo 1st Prize

Tue, 29 Jul 2008 15:30:59 GMT

A photo story from the Glitnir Copenhagen Marathon in May 2007 won 1st prize in the sports features category at the World Press Photo contest yesterday. Erik Refner, photographer at Berlingske Tidene newspaper in Denmark shot the 10 photos of marathon runners at the finish line in May 2007.

Glitnir Bank enters India

Tue, 29 Jul 2008 15:30:59 GMT

Forms a Joint Venture with LNJ Bhilwara Group to develop geothermal power plants in India & Nepal

Presentation and web cast in London

Fri, 22 Feb 2008 13:31:12 GMT

Lárus Welding, CEO, and Alexander K. Guðmundsson, CFO, presented Glitnir's full-year results for 2007 to shareholders and market participants on Wednesday, 30 January
Launch the webcast

Moody's reviews Glitnir's rating for possible downgrade

Tue, 29 Jul 2008 15:30:59 GMT

Moody's Investors Service announced today that they have placed on review for possible downgrade the Aa3 long-term rating and C bank financial strength rating (“BFSR”) of Glitnir banki hf. Glitnir’s P-1 short term rating was affirmed.

Glitnir Bank Full-Year Results for 2007

Tue, 29 Jul 2008 15:30:58 GMT

ISK 27.7 billion (EUR 315 m) profit after tax 19.3% Return on equity

Glitnir publishes today the fourth quarter results and Annual Accounts excluding notes

Tue, 29 Jul 2008 15:30:59 GMT

Glitnir publishes today the fourth quarter results and Annual Accounts excluding notes. As a result of technical difficulties that emerged at the very last moment in the process leading up to the publication, pertaining to its notes.

Changes to Glitnir Executive Management Board

Tue, 29 Jul 2008 15:30:59 GMT

Changes have been made to Glitnir Executive Management Board in relation to further increased regional focus on the Bank’s three geographical business regions; Iceland, Nordic and International. At the same time an agreement has been made that Jan Forsbom will step down from the Executive Management board.

Presentation of Glitnir Bank’s Full-Year Results

Tue, 29 Jul 2008 15:30:27 GMT

Glitnir will host the following presentations and webcasts in connection with the publication of the Group’s results for the full-year of 2007. An English version of the presentation will be available on www.glitnirbank.com as of its publication early morning on 29 January.

Annual General Meeting on 20 February 2008

Tue, 29 Jul 2008 15:30:29 GMT

Glitnir banki hf. will hold its Annual General Meeting at 2.00 pm on Wednesday 20 February 2008 at Hótel Saga in Reykjavík.

A new conference: The future of the seafood industry in Germany and Iceland

Tue, 19 Aug 2008 19:28:43 GMT

Glitnir, along with the Icelandic Embassy in Berlin, German-Icelandic Chamber of Commerce and Fish International, is hosting a new industry conference, focused on the future of the seafood industry in Germany and Iceland, two countries that face similar challenges in the sector. .

The conference will take place on February 12 alongside the Fish International exhibition in Bremen.
Exhibition information: www.fishinternational.com

Bjarni Ármannsson invests in Glitnir Property Holding

Tue, 29 Jul 2008 15:30:58 GMT

Bjarni Ármannsson, former CEO of Glitnir Bank, signed an agreement, after closing of market on Friday 21st of December, to buy 12% of Glitnir Property Holding (GPH), a subsidiary of Glitnir Bank, for ISK 970 million.

The Norwegian Ministry of Finance Approves Merger of Glitnir Bank ASA and BNbank

Tue, 29 Jul 2008 15:30:58 GMT

The Norwegian Ministry of Finance approved the merger of Glitnir Bank ASA and BNbank on 12 December. The merger, known internally as Project Albatross, is hence on schedule. The merger will be completed in early March next year.

Glitnir renews their supportive agreement with the Maritime Museum in Reykjavik

Tue, 29 Jul 2008 15:30:58 GMT

Glitnir has signed a three year cooperative agreement with the Maritime Museum in Reykjavik that includes a continuing support with the daily operations and expansion of the museum.

The Banker (FT) awarded Glitnir Bank of the Year 2007

Tue, 29 Jul 2008 15:30:57 GMT

The Banker magazine, a member of the Financial Times group and the world's oldest international banking magazine has named Glitnir Icelands Bank of the Year in its 2007 annual awards ceremony at the Dorchester Hotel in London.

Glitnir and LNJ Bhilwara Group in India sign Memorandum of Understanding

Tue, 29 Jul 2008 15:30:57 GMT

Glitnir to partner with leading Energy Company of India to establish Geothermal Energy in India and Nepal

Glitnir Bank Ratings Unaffected By Republic of Iceland Outlook Revision

Tue, 29 Jul 2008 15:30:57 GMT

Glitnir Banks rating is unaffected by S&Ps revision of the outlook on the ratings on the Republic of Iceland to negative from stable. The factors behind the sovereign rating action are already reflected in the ratings on Glitnir Bank.

The future of Canadian seafood lies in aquaculture, according to new Glitnir report

Tue, 29 Jan 2008 18:18:06 GMT

Increasing global salmon prices counterbalance declining harvests in traditional fisheries. An expected increase in global demand for seafood will boost demand for sustainable aquaculture, and Canada is well positioned to meet such growth. The weak US dollar is forcing seafood exporters to look to alternative markets.

Glitnir Bank 9 Months Results for 2007

Tue, 29 Jul 2008 15:30:57 GMT

ISK 25.2 billion (EUR 288 m) profit after tax
24.1% Return on equity.

Presentation of Glitnir Banks Third Quarter Results

Tue, 29 Jul 2008 15:30:57 GMT

Glitnir will host presentations and webcasts in connection with the publication of the groups results for the third quarter of 2007. An English version of the presentation will be available on www.glitnirbank.com as of its publication at midday on 30 October.

Glitnir: Moody's credit ratings

Tue, 29 Jul 2008 15:30:57 GMT

Moody's Investors Service has today affirmed Glitnir Bank Aa3 /P-1 credit rating, with the financial strength of C and outlook stable.

Glitnir Number One Broker on OMX Nordic Exchange in September

Sat, 26 Jan 2008 15:40:47 GMT

Glitnir handled 6.56% of the turnover on OMX Nordic Exchange in September. This gave the banking group the top position in terms of total market share for the first time. Based on year-to-date turnover, Glitnir is the second largest broker on OMX with a market share of 6.25%.

Glitnir oversees the sale of Skeljungur hf.

Tue, 29 Jul 2008 15:30:57 GMT

Glitnir banki hf. (Glitnir) and Uppspretta eignarhaldsfélag ehf., a holding company owned by Fons hf, have come to an agreement where Glitnir will oversee and underwrite the sale of Skeljungur hf.

Live webcast from Glitnir Capital Market Day 1 October

Sat, 26 Jan 2008 15:40:47 GMT

Glitnir will hosts its Capital Market Day on 1st of October in Oslo, Norway. The management of the Bank will introduce Glitnirs strategy, operations and outlook.
Webcast

Operational Model and Organisation of Glitnir's Investment Management Business Line Finalised

Sat, 26 Jan 2008 15:40:47 GMT

Glitnirs acquisition of the Finnish FIM Groups asset management expertise has laid the foundation for building up Glitnirs international asset management services.

Glitnir strengthens its robust liquidity position with $ 1billion bond in the US market

Tue, 29 Jul 2008 15:30:56 GMT

Glitnir Bank today issued a US$ 1 billion bond in the US market. The bond, which pays a fixed rate of 6.375% for 5 years, was issued off the Banks US 144a MTN Programme.

Frank O. Reite invests into Glitnir Property Group

Tue, 29 Jul 2008 15:30:56 GMT

Frank O. Reite will become an active investor in Glitnir Property Holding, of which he is Chairman and has decided at the same time to step down as Executive Vice President in Glitnir banki hf. as of end of September. Mr. Reite will continue to have a close relationship with Glitnir, specifically in the further development of Glitnir Property Holding and as a strategic advisor for the Bank.

Glitnir sells 39,8% share in Tryggingamiðstöðin

Tue, 29 Jul 2008 15:30:56 GMT

Glitnir banki hf. (Glitnir) has sold a 39.8% stake in Tryggingamiðstöðin hf. (TM), a total of 433.614.869 shares. These are all the shares the Bank secured in the transaction announced on September 5th.

Capital Market Day Agenda

Tue, 29 Jul 2008 15:30:56 GMT

Glitnir will hosts its Capital Market Day on 1st of October in Oslo, Norway. The management of the Bank will introduce Glitnirs strategy, operations and outlook.

Official opening of Glitnir Capital Corporations office in the United States

Tue, 29 Jul 2008 15:30:56 GMT

Glitnir, the Nordic financial group, announced yesterday the official opening of a New York office for its US subsidiary Glitnir Capital Corporation.

Huge potential for green geothermal energy in the US, holds Glitnir

Wed, 19 Mar 2008 11:21:25 GMT

Glitnir, the Nordic financial group, hosted the first "Steam of Opportunities" conference in New York yesterday

Glitnir acquires 39.8% stake in TM

Tue, 29 Jul 2008 15:30:56 GMT

Glitnir banki hf. (Glitnir) has acquired a 39.8% stake in Tryggingamiðstöðin hf. (TM) with the aim to sell to group of investors.

Charities received ISK 41.3 million

Tue, 29 Jul 2008 15:30:55 GMT

A total of 130 charities were sponsored through pledges in the Glitnir Reykjavík Marathon 2007, many of them for the first time.

Fitch affirms Glitnir

Tue, 29 Jul 2008 15:30:55 GMT

Fitch Ratings has today affirmed Glitnir Bankis (Glitnir) ratings at Long-term Issuer Default (IDR) 'A', Short-term IDR 'F1', Individual 'B/C', Support '2' and Support Rating Floor of BBB. The Outlook for the Long-term IDR is Stable.

Facts and comments from Glitnir on the current turbulence in the international financial markets

Sat, 26 Jan 2008 15:40:47 GMT

Glitnir has no exposure to the US sub-prime mortgage market, neither directly, nor indirectly through CDOs, CLOs or any specific investment vehicles. Furthermore, none of the funds run by asset management within Glitnir have direct exposure to the US sub-prime sector, indirect exposure in funds of funds is negligible, less than 0.01% of assets under management.

Birna Einarsdóttir takes over as Executive Vice President of Glitnir Retail Banking in Iceland

Tue, 29 Jul 2008 15:30:55 GMT

Changes have been made in the Glitnir Banki hf. Executive Management, with Birna Einarsdóttir, Executive Vice President of Corporate Development, taking over as Executive Vice President of Glitnir Commercial Banking in Iceland. Jón Diðrik Jónsson, who has served as the Banks CEO in Iceland, will step down at his own request.

Glitnir Bank's Second Quarter 2007 Results

Tue, 29 Jul 2008 15:30:55 GMT

After-tax profit for the first six months of 2007 was ISK 16.5 billion (EUR 189 m).
24.2% return on equity.

Glitnir the third largest equity broker in the Nordic Capital Market

Sat, 26 Jan 2008 15:40:47 GMT

Glitnir was the third largest equity broker in the Nordic Capital Market (OMX + Oslo Stock Exchange) in the first six months of 2007 in terms of market turnover*.

Presentation of Glitnir Bank's Second Quarter Results

Tue, 29 Jul 2008 15:30:55 GMT

Glitnir will host presentations and webcasts in relation to the publication of its second quarter results for 2007. An English version of the presentation will be available on www.glitnirbank.com as of its publishing midday on 31 July.

Completion of the Leimdörfer transaction

Tue, 29 Jul 2008 15:30:54 GMT

Glitnir Property Holding AS has today completed the acquisition of 91% of the shares in Leimdörfer Holding AB. Leimdörfer is a leading Swedish commercial real estate adviser operating mainly in the Swedish and Finnish property market.

Future organization of Glitnir in Norway

Tue, 29 Jul 2008 15:30:54 GMT

Glitnir banki hf. has started a process aiming at modelling the future organization of Glitnirs activities in Norway.

New members promoted to the Executive Management Board

Sat, 26 Jan 2008 15:37:44 GMT

Two new members have been promoted to the Executive Management Board:
Alexander K. Guðmundsson to be new group CFO and Gísli Heimisson to be new EVP for Shared Services

Two new members promoted to the Executive Management Board

Tue, 29 Jul 2008 15:30:53 GMT

Alexander K. Guðmundsson, Executive Director and second in command of building up Glitnirs operations in Norway, has been appointed CFO of the Glitnir group. It is also announced that Gísli Heimisson will take on the role of EVP for Shared Services and be the bank´s Chief Information Officer (CIO) with overall responsibility for Information Technology and Shared Services across the Glitnir group. These changes come in the wake of Tómas Kristjánsson and Finnur Stefánsson stepping down as CFO and COO to set up a real estate and investment company. Their move has been under consideration for a while and is done in close cooperation with the bank.

The Right And Obligation To Redeem The Shares In FIM Group Corporation

Tue, 29 Jul 2008 15:30:53 GMT

Glitnir banki hf. has today given a notification to FIM Group Corporation according to which Glitnirs holding in FIM has exceeded nine tenths (9/10) of the shares and votes in FIM.

Glitnir Bank's ratings from Moody's unaffected

Tue, 29 Jul 2008 15:30:53 GMT

Moodys Investors Service says that the acquisitions announced over the past week by two of Icelands three rated banks, Glitnir banki and Landsbanki hf, will not affect the banks ratings.

Glitnir successfully closes FIM tender offer

Tue, 29 Jul 2008 15:30:52 GMT

Over 97% of FIM shareholders accepted Glitnir shares as payment
Glitnir Bank now holds 98.28% in FIM Group

Glitnir issues a 4 year EUR 500m FRN

Sat, 26 Jan 2008 15:37:44 GMT

On Wednesday, Glitnir issued a 500 million Senior Floating Rate Note due in May 2011. This is the first benchmark FRN issue from Glitnir denominated in Euros since January 2005.

Successful results of the FIM tender offer

Sat, 26 Jan 2008 15:37:44 GMT

Glitnirs total holding in FIM would rise approximately to 98.16 per cent of the shares and votes in FIM.

Glitnir supports marathon race to beat cancer

Sat, 26 Jan 2008 15:37:44 GMT

Glitnir adds another charitable spin to its sponsorship of the Glitnir Copenhagen Marathon, which takes place next Sunday, 20 May, as the bank enters into cooperation with the Danish Cancer Society (Kræftens Bekæmpelse).

Glitnir strengthens Executive Management

Tue, 29 Jul 2008 15:30:52 GMT

Jan Forsbom, Managing Director for FIM Asset Management, Helsinki Finland, has been appointed Executive Vice President within Glitnir with responsibility for Investment Management.

Glitnir consolidates Executive Management

Sat, 26 Jan 2008 15:37:44 GMT

Sveinung Hartvedt appointed new EVP for Glitnir Markets. Morten Bjørnsen, head of Nordic Banking, to take seat in the Executive Management Board Frank O. Reite takes on new role as EVP for Strategic Growth & Business Development.

First Quarter Presentation Webcast

Sat, 26 Jan 2008 15:37:44 GMT

Glitnir hosted a live presentation via webcast in English at 8.00 a.m. (8.00 a.m. Iceland /10.00 a.m. CET), Wednesday 2 May, where Bjarni Ármannsson, CEO, presented Glitnir's first quarter results for 2007. A webcast from the event is available here.

Glitnir conference call today, 2 May

Sat, 26 Jan 2008 15:37:44 GMT

Glitnir will host a live presentation via webcast in English at 8.00 a.m. (8.00 a.m. Iceland /10.00 a.m. CET), Wednesday 2 May where Bjarni Ármannsson, CEO, will present Glitnir's first quarter results for 2007.

Board of Directors elected unopposed

Tue, 29 Jul 2008 15:30:52 GMT

At Glitnir banks Shareholder Meeting today the following parties stood for election to the Board of Directors and were elected unopposed

Presentation of Glitnir Banks First Quarter Results + Glitnirs new CEO Lárus Welding

Tue, 29 Jul 2008 15:30:52 GMT

Glitnir will host the following presentations and webcasts in relation to the publication of its first quarter results for 2007. Lárus Welding, Glitnirs new CEO will participate together with Bjarni Ármannsson.

Lárus Welding takes over baton from Bjarni Ármannsson in Glitnir

Tue, 29 Jul 2008 15:30:51 GMT

Lárus Welding has been appointed CEO of Glitnir, after Bjarni Ármannsson, who has served as the banks CEO for the past 10 years, stepped down today. Welding has been Managing Director for Landsbankis London Branch since 2003,. He started his career in Glitnirs (then Íslandsbankis) Corporate Banking division in 1999. Welding takes on responsibility for Glitnirs 1,900 employee strong organisation, with offices in 10 countries. At the end of first quarter 2007, Glitnir had a market capitalisation of EUR 4.5 billion and EUR 25.3 billion in total assets.

Meetings agenda and presentations of Glitnir's Q1 07 results

Sat, 26 Jan 2008 15:37:44 GMT

Glitnir will host the following presentations and webcasts in relation to the publication of its first quarter results for 2007. Glitnir will publish its results before of the markets open. An English version of the presentation will be available on www.glitnirbank.com as of its publishing on 30 April.

Reschedule of Glitnir International telephone conference and web cast

Tue, 29 Jul 2008 15:30:51 GMT

Glitnir will host a live presentation via webcast in English at 8.00 a.m. (10.00 a.m. CET), Wednesday 2 May. Bjarni Ármannsson, CEO, will present the results and answer questions. A live broadcast of the presentation can be accessed on Glitnirs web: www.glitnirbank.com.

Glitnir Bank's First Quarter 2007 Results

Tue, 29 Jul 2008 15:30:51 GMT

After-tax profit for the first quarter was ISK 7.0 billion, as compared to ISK 9.1 billion in Q1 2006. After-tax profit was ISK 9.3 billion in Q4 2006.

Nominations to Glitnir banki hf. Board of Directors

Tue, 29 Jul 2008 15:30:51 GMT

The deadline for nominations to the Board of Directors of Glitnir banki hf. expired at 3.00 pm today, 25 April. The following persons have been nominated to the board at the Extraordinary General Meeting on 30 April 2007:

Presentation of Glitnir Banks Annual Results

Tue, 29 Jul 2008 15:30:51 GMT

Glitnir will host the following presentations and web cast in relation to the publication of its first quarter results for 2007. Glitnir will publish its results before opening of markets.

Leading Nordic real estate adviser

Tue, 29 Jul 2008 15:30:50 GMT

The leading Nordic commercial real estate adviser, Glitnir Property Holding, is created through the combination of the Norwegian Glitnir Property Group based in Oslo and the Swedish real estate adviser Leimdörfer with offices in Stockholm and Helsinki, Finland.

Glitnir notice to convene extraordinary shareholder meeting

Tue, 29 Jul 2008 15:30:50 GMT

At its meeting this morning, the Board of Directors of Glitnir banki hf. decided to call an extraordinary shareholders meeting on 30 April 2007. The meeting takes place at Glitnir headquarters and starts at 15:00. On the Agenda is election to the Board of Directors.

Glitnir prospectus April 2007

Sat, 26 Jan 2008 15:37:44 GMT

On 13 April Glitnir issued a prospectus relating to the admission to trading of up to 194,147,775 shares and documents incorporated by reference.

Timetable and conditions of FIM tender offer

Tue, 29 Jul 2008 15:30:50 GMT

Due to executed trades concerning the shares of FIM Group Corporation (FIM) on March 16, 2007 Glitnir banki hf. is obligated to make a public tender offer for FIM Group Corporations shares and options. The tender offer is made for all shares issued by FIM that are not owned by FIM or any company belonging to the FIM group of companies.

Glitnir strengthens the Nordic management team

Tue, 29 Jul 2008 15:30:50 GMT

Glitnir strengthens the Nordic management team: Morten Bjørnsen, Fokus Bank, takes on leadership role for Glitnirs Nordic banking operations

Glitnir: Moody's credit ratings

Tue, 29 Jul 2008 15:30:50 GMT

Moody's changes Glitnir's credit rating to Aa3

Moody's Investors Service announced on Tuesday night of Glitnir Bank's credit rating following review for possible downgrade. Glitnir credit rating will be Aa3.

Moody's reviews debt and deposit ratings of Glitnir

Tue, 29 Jul 2008 15:30:50 GMT

Moody's Investors Service announced late last night that it has placed under review for possible downgrade the debt and deposit ratings of Glitnir Bank, pursuant to its refined rating methodology incorporating joint default analysis (JDA).

Glitnir Bank forms Glitnir Property Holding

Sat, 26 Jan 2008 15:37:43 GMT

26 March 2007 Glitnir Bank announced today that the Bank and the managing partners and co-owners of Glitnir Property Group, former Union Group, have signed an agreement to restructure the ownership of the Glitnir Property Group. Together the parties will established Glitnir Property Holding where Glitnir Banki will own 70 percent and the partners will own 30 percent. Glitnir Property Holding will own 100 percent of Glitnir Property Group.

Glitnir acquires 68.1 percent of FIM Group in Finland

Tue, 29 Jul 2008 15:30:49 GMT

Based on to the agreements entered into between Glitnir banki hf. and the 11 main shareholders of FIM Group Corporation on 5 February 2007, Glitnir banki hf. today aquired 68.1 percent of the shares in FIM Group Corporation in Finland on terms announced on February 5th 2007. Glitnir plans to launch a tender offer for the remaining shares in FIM Group in early April.

Glitnir's rating unaffected by Fitch sovereign downgrade of Iceland

Tue, 29 Jul 2008 15:30:49 GMT

Fitch Rating agency has today affirmed Glitnir Bank's ratings at Issuer Default 'A', Short-term 'F1', Individual 'B/C' and Support '2'.

Glitnir Bank's AGM Conclusions

Tue, 29 Jul 2008 15:30:49 GMT

The following Motions to the Annual General Meeting (AGM) of Glitnir banki hf., which will was held on 20 February 2007, were adopted at the Bank´s AGM

Bjarni Ármannsson on CNBC

Tue, 29 Jul 2008 15:30:49 GMT

This morning Bjarni Ármannsson, CEO of Glitnir, discussed Moody´s recent upgrade of the Icelandic banks with Jeff Cutmore on CNBC´s morning show.

Click here to play the interview

Moody's credit ratings

Tue, 29 Jul 2008 15:30:49 GMT

Moody's upgrades Glitnir's credit rating to Aaa; Affirms P-1 rating and financial strength.

Glitnir's Annual General Meeting and Report

Tue, 29 Jul 2008 15:30:49 GMT

Glitnir's Annual Report has been released as well as the results of the Annual General Meeting.

Annual Report (as PDF)

Nominations to the Board of Directors of Glitnir banki hf.

Tue, 29 Jul 2008 15:30:48 GMT

The deadline for nominations to the Board of Directors of Glitnir banki hf. expired at 2.00 pm today, 15 February. The following persons have been nominated to the board at the Annual General Meeting on 20 February 2007

Annual General Meeting of Glitnir banki hf.

Sat, 26 Jan 2008 15:32:41 GMT

The 2007 Annual General Meeting of Glitnir banki hf. will be held at Hotel Nordica on 20 February at 2:00 p.m.

Fitch Affirms Glitnir on Acquisition of FIM

Tue, 29 Jul 2008 15:30:48 GMT

Glitnir Banki's ("Glitnir") ratings at Issuer Default 'A', Short-term 'F1', Individual 'B/C' and Support '2'. The Outlook on the Issuer Default rating is Stable. The affirmation of Glitnir's ratings follows its announcement to acquire Finland's investment company FIM Group Corporation, active in asset management, brokerage and investment banking. The transaction is subject to approval by the Finnish and Icelandic Financial Supervisory Authorities and competition authorities and is expected to be completed by spring 2007.

Glitnir Bank's Conference call in relation to FIM acquisition

Sat, 26 Jan 2008 15:32:41 GMT

Glitnir and FIM are hosting a telephone conference in English at 12.30 Finland, 11.30 Oslo time, 10.30 UK/Iceland, Monday 5 February. Bjarni Ármannsson, CEO of Glitnir, and Risto Perttunen, CEO, FIM will present the transaction and chair the phone conference. The conference call, along with a webcast of the presentation, will also be broadcasted live on our website.

Glitnir acquires majority in the listed FIM Group in Finland

Tue, 29 Jul 2008 15:30:48 GMT

Glitnir banki hf. today announced its intention to make a public tender offer for the shares in FIM Group Corporation in Finland. Glitnir has received an undertaking from the 11 major owners of FIM, who currently hold 68.1 percent of FIM, to sell their shares to Glitnir. Glitnir has further announced its intention to make a public offer to acquire all the remaining shares in the company.

Glitnir announces organisational changes

Tue, 29 Jul 2008 15:30:48 GMT

Consolidates management to support international growth and local reach.

Today, Glitnir announced changes to the groups organisational structure and plans to open office in New York to support its North American business. The aim of the organisational changes is to facilitate strong and profitable integration of all business units and to accommodate further growth.

Glitnir's CEO on CNBC and Bloomberg

Tue, 29 Jul 2008 15:30:48 GMT

Bjarni Ármannsson was interviewed earlier on CNBC and Bloomberg where he discussed the record results of Glitnir in 2006 and the opportunities going forward. The interviews are available for streaming.

Annual Results Presentation Webcast

Sat, 26 Jan 2008 15:32:40 GMT

Glitnir hosted a telephone conference in English at 10.30 a.m. GMT, (11:30 a.m. CET), Tuesday 30 January. Bjarni Ármannsson, CEO, presented the annual results for 2006 and answered questions. A webcast from the event is available here.

Glitnir Bank's Annual Results for 2006

Tue, 29 Jul 2008 15:30:48 GMT

2006 was a record year for Glitnir, with profit after taxes of ISK 38.2 billion (EUR 435 m), double that of last year. After-tax profit in fourth quarter was ISK 9.3 billion (EUR 106 m) and return on equity was 39.4% for the year.

Glitnir supports The Living Art Museum

Tue, 29 Jul 2008 15:30:47 GMT

A three-year cooperation agreement was signed between The Living Art Museum and Glitnir yesterday stating that the bank will sponsor the museum by ISK8m during the contract period.

Glitnir Bank issues 500 million fixed rate bond

Tue, 29 Jul 2008 15:30:47 GMT

Glitnir has today issued a 500 million 4.375% bonds due in 2010. This is the first public issue from Glitnir denominated in Euros, either in fixed or floating format, since June 2005. The issue was managed by ABN Amro and Deutsche Bank.

Presentation of Glitnir Banks 2006 Annual Results

Tue, 29 Jul 2008 15:30:47 GMT

Glitnir will host the following presentations and conference calls in relation to the publication of its full annual results for 2006. Glitnir will publish its results before opening of markets. An English version of the presentation will be available on www.glitnirbank.com as of 30 January.

Excellent return on Almenni Pension Fund 2006

Tue, 29 Jul 2008 15:30:47 GMT

All investment plans of the Almenni Pension Fund yielded an excellent return in 2006. The main explanation is a good performance of both Global and Icelandic equities.

Geysir Green Energy founded:

Tue, 29 Jul 2008 15:30:47 GMT

Glitnir, FL Group and VGK Hönnun Engineering have founded an investment company, Geysir Green Energy, with the objective of investing in sustainable energy.

2006 a good year for the Icelandic seafood industry despite contraction in catch

Wed, 30 Jan 2008 13:58:34 GMT

The catch of the Icelandic fishing fleet is estimated at 1,324 tonnes in the year 2006 according to the Directorate of Fisheries. The catch in 2006 was the smallest since 1991 when it was 1,044 tonnes.

Copeinca ASA completes private placement

Wed, 30 Jan 2008 14:00:03 GMT

Copeinca, the fourth largest fishmeal producer in Peru by assets, has carried out a private placement of 15.5 million shares at a subscription price of NOK 40 per share, contributing USD 100 million in new equity to the company.

Glitnir Bank's 2006 activities and funding strategy

Sat, 26 Jan 2008 15:32:40 GMT

Glitnir Bank's funding team has put together a presentation that summarises Glitnir Bank's funding strategy and activity during the turbulent year of 2006.

The year of 2006

Glitnir's rating unaffected by S&P's sovereign downgrade of Iceland

Tue, 29 Jul 2008 15:30:46 GMT

Glitnir's rating is unaffected by S&P's sovereign downgrade of Iceland. S&P states in a release on Friday, that Glitnir's rating is not threatened by Republic of Iceland downgrade.

Glitnir signs ISK 100 billion covered bond programme

Tue, 29 Jul 2008 15:30:46 GMT

Glitnir Bank has signed ISK 100 billion covered bond programme. The underlying assets are the Banks mortgage loans in Iceland. The programme was arranged by Deutsche Bank. Bonds that will be issued off the programme will be rated Aaa by Moodys Investors Service, which is the the highest possible rating.

Icelandair is public

Tue, 29 Jul 2008 15:30:46 GMT

The shares of Icelandair Group Holding hf. were listed on the ICEX Main List, Thursday 14 December 2006. Glitnir sold the company, formerly owned by FL Group hf., to new core investors, employees and the public.

Glitnir Bank part of the VINX Benchmark index

Sat, 26 Jan 2008 15:32:40 GMT

Glitnir Bank is a new share in the VINX Benchmark index. The VINX Benchmark Index consists of the largest and most traded stocks on the Nordic exchange and the exchanges in Oslo and Reykjavik, representing the majority of sectors.

Share offering of Icelandair Group Holding hf. completed

Tue, 29 Jul 2008 15:30:46 GMT

Share offering of Icelandair Group Holding hf. completed. Substantial oversubscription

Glitnir welcomes media to the opening of its office in Shanghai

Wed, 19 Mar 2008 11:28:09 GMT

Glitnir is finance partner for the geothermal district heating utility in Xianyang; CHINA'S OFFICIAL GEOTHERMAL CITY. Glitnir invites the press, to take part in our opening in Shanghai, Monday December 4.

Glitnir signs EUR 550,000,000 Term Loan Facility

Tue, 29 Jul 2008 15:30:46 GMT

Glitnir has signed a three-year Syndicated Term Loan Facility for EUR 550,000,000 This is the largest syndicated facility ever signed by Glitnir, and the banks largest single credit issuance so far this year.

Glitnir Securities raises NOK 150 million in new equity for Villa Salmon AS

Wed, 30 Jan 2008 13:59:05 GMT

Glitnir Securities in Oslo has completed a private placement for Villa Salmon in Norway. Villa salmon is a Norwegian aquaculture company focusing on farming of organic and best practice Salmon, trout and cod.

Glitnir announces expansion into U.S. geothermal energy market

Wed, 19 Mar 2008 11:27:10 GMT

Glitnir executive Árni Magnússon represented the leading Nordic specialty bank today in a speech at the Geothermal Development and Finance Workshop in Washington, D.C.

Glitnir Bank issues USD 500 million of Floating Rate Notes

Tue, 29 Jul 2008 15:30:46 GMT

Glitnir Bank issued $500 million of Floating Rate Notes on 10 November. The notes, due in January 2011, were issued in response to notable demand from institutional investors in the US.

Press Seminar in Stockholm, November 14

Sat, 26 Jan 2008 15:32:40 GMT

Glitnir and Fischer Partners invite to press seminar in Stockholm, Tuesday 14, November 2006, from 11 AM 1 PM.

Bjarni Ármannsson on CNBC

Tue, 29 Jul 2008 15:30:45 GMT

Bjarni Ármannsson, CEO of Glitnir Bank was interviewed on CNBC following the third quarter results of the Bank.

Q3 06 Conference Call Replay

Sat, 26 Jan 2008 15:32:40 GMT

Glitnir hosted a conference call in English where Bjarni Ármannsson, CEO, presented the Q3 results of 2006. The replay is available here.

Glitnir Bank nine months results for 2006

Tue, 29 Jul 2008 15:30:45 GMT

After-tax profit for the third quarter was ISK 8.8 billion, as compared to ISK 11.0 billion in Q2 2006. After-tax profit was ISK 28.9 billion in the first 9 months, as compared to ISK 15.4 billion in the first 9 months of 2005.

Chinese seafood consumption to increase 40 per cent by 2020; predicts Glitnir Research

Wed, 30 Jan 2008 13:59:35 GMT

Seafood consumption in China will increase by more than 40 per cent by 2020, according to a new seafood industry research report issued by Glitnir Bank.

Presentation of Q3 2006 results

Tue, 29 Jul 2008 15:30:45 GMT

Glitnir will host the following presentations and conference calls in relation to publishing Q3 2006 results. An English version of the presentation will be available on www.glitnir.is as of October 31st.

FL Group sells all its shares in Icelandair Group

Tue, 29 Jul 2008 15:30:45 GMT

FL Group has secured the sale of its entire shareholding in Icelandair Group. The estimated profit from the sale will be around 26 billion ISK (EUR 305 million) based on the book value of Icelandair Group at the end of June 2006.

Glitnir supports the Icelandic Cancer Society make your contribution

Tue, 29 Jul 2008 15:30:45 GMT

Glitnir is supporting the Icelandic Cancer Societys early detection campaign which is now in full swing. The campaign adopted pink as its marker colour, and Glitnir has switched the colour of its website and headquarters to pink.

Glitnir strengthens distribution in Norway: The acquisition of 45 per cent in Norsk Privatøkonomi completed

Tue, 29 Jul 2008 15:30:44 GMT

BNbank, subsidiary of Glitnir Bank , has completed the transaction whereby it purchased 45 per cent of shares in the financial advisory group Norsk Privatøkonomi ASA. Norsk Privatøkonomi ASA (NPØ) has 90 employees and operates 12 branch offices in key regions around Norway.

Glitnir underwrites 51% share in Icelandair Group

Tue, 29 Jul 2008 15:30:44 GMT

According to an agreement between FL Group and Glitnir, the Bank will underwrite and sell 51% of shares in Icelandair Group. Read more.

Glitnir announces further changes in organisational structure to sharpen focus and integration

Tue, 29 Jul 2008 15:30:44 GMT

Glitnir today announced changes in the banks organisational structure, following years of exceptional growth. The changes announced today follow the consolidation of the Capital Market units and the establishment of a Shared Services unit, which were implemented August 24th.

Glitnir Bank issues US$ 250 million hybrid Tier 1 bonds

Tue, 29 Jul 2008 15:30:44 GMT

Glitnir Bank issued US$ 250 million perpetual hybrid Tier 1 capital notes. The issue is callable by Glitnir Bank after 10 years. The terms of the transaction are 265 basis points over 10 year US Treasury bonds, equivalent to 208 basis points over LIBOR. Based on 1H 06 figures the Banks capital ratios now stand at 10.2% for Tier 1, and CAD at 15.3%

Glitnir wins Annual Report Award

Tue, 29 Jul 2008 15:30:44 GMT

GLITNIR yesterday received the Annual Report Award, presented for the second time by Stjórnvísi, for its 2005 annual report.

Fitch Ratings Affirms Glitnir Bank at A; Outlook Stable

Tue, 29 Jul 2008 15:30:44 GMT

Fitch Ratings has today affirmed Glitnir Banks ratings at A; outlook stable. Fitch Ratings announced that Glitnir Bank at Issuer Default A, Short-term F1, Individual B/C and Support 2. The Outlook on the Issuer Default rating is Stable. According to the announcement, the ratings reflect the banks good underlying profitability and diversified revenue streams, its sound asset quality and its good capitalisation. They also take into account its reliance on wholesale funding, the integration risks linked to recent acquisitions and its exposure to the small Icelandic economy and volatile Icelandic Krona.

Glitnir advises and provides finance for acquisition of House of Fraser plc

Sat, 26 Jan 2008 15:32:39 GMT

Baugur, together with a consortium of investment partners, announces a recommended offer for House of Fraser; Glitnir is acting as Financial Adviser, Underwriter, Mandated Lead Arranger and Bookrunner in the transaction

Update on Glitnir Bank Funding and Liquidity

Sat, 26 Jan 2008 15:32:39 GMT

-Update on Glitnir Bank Funding and Liquidity
-Glitnir Bank has liquid assets to cover all refinancing needs for 2007

Glitnir consolidates Capital Market and Strategic Support units

Tue, 29 Jul 2008 15:30:43 GMT

Glitnir today announced plans to further strengthen the organisation. The change is intended to align capital markets activities for further development and improve integration across the group in information technology, back-office, facility management and project management.

Nearly ten thousand ran Glitnirs Reykjavik Marathon

Tue, 29 Jan 2008 13:44:02 GMT

- Glitnirs employees raised ISK 22 million for charity

A record 10,000 runners started the 22th Reykjvik Marathon sponsored by Glitnir on Saturday. Sunny weather and jubilant crowds greeted the participants that ran through the streets of Reykavik.

BNbank acquires 45 per cent of shares in Norsk Privatøkonomi ASA

Tue, 29 Jul 2008 15:30:43 GMT

BNbank, a part of the Icelandic financial group Glitnir, today entered into an agreement to acquire 45 per cent of the shares in Norsk Privatøkonomi ASA. Norsk Privatøkonomi ASA is a independent financial advisory company with 12 branches in key areas of Norway. The acquisition strengthens BNbank and Glitnirs distribution in Norway.

Bjarni interviewed on Bloomberg, CNBC

Sat, 26 Jan 2008 15:32:39 GMT

Bjarni Ármannsson, CEO of Glitnir Bank, was interviewed yesterday on Bloomberg and CNBC following record second quarter results of the Bank. The discussion was on Glitnir´s record profit, the overall strategy of the Bank as well as the status of the Icelandic Economy.

Record After-tax profit in Q2

Tue, 29 Jul 2008 15:30:43 GMT

Second quarter 2006 was a record profit for Glitnir with after-tax profit of ISK 11.0 billion as compared to ISK 9.1 billion in Q1 2006. After-tax profit was ISK 20.1 billion the first 6 months, as compared to ISK 10.5 billion in the first 6 months 2005.

Presentation of 6 months results

Tue, 29 Jul 2008 15:30:43 GMT

Glitnir will host both presentations and conference calls in relation to publishing Q2 2006 results on August 1st. An English version of the presentation will be available on www.glitnir.is as of August 1st.

Euromoney ranks Glitnir Best bank in Iceland

Tue, 29 Jul 2008 15:30:43 GMT

The leading bank and finance publisher Euromoney PLC ranks Glitnir Best Bank in Iceland in its new report. Euromoney released its yearly ranking of the finance sector today.

Acquisition of Fischer Partners completed

Tue, 29 Jul 2008 15:30:43 GMT

Glitnir hf., Reykjavik, today completed the transaction where it purchased all shares in the leading Swedish brokerage firm Fischer Partners. The Icelandic and Swedish FSAs, Fjarmalaeftirlitid and Finansinspektionen respectively, have given Glitnir the formal approval to acquire the company.

EUR 200 million Revolving Credit Facility

Tue, 29 Jul 2008 15:30:42 GMT

Glitnir banki hf. is pleased to announce that it has successfully concluded a EUR 200 million 5 year Revolving Credit Facility with a group of 11 relationship banks, which will be used to strengthen further the Banks liquidity position and to refinance a 3 year EUR 160 milion Revolving Credit Facility arranged in 2003.

Glitnir Bank issues US$ 500 million subordinated bonds

Tue, 29 Jul 2008 15:30:42 GMT

Yesterday, Glitnir Bank issued US$ 500 million subordinated bonds, the equivalent of ISK 37 billion. The issue classifies as Tier 2 capital and is for a term of 10 years, and may be called by Glitnir after 5 years. The terms of the transaction are 175 basis points over 5 year US treasury bonds, or equivalent to 123 basis points over LIBOR.

Glitnir Bank opens office in Halifax, Canada

Tue, 29 Jul 2008 15:30:42 GMT

Glitnir Bank of Iceland has opened a representative office in Halifax, Canada. The primary business activities of the new office will be to develop the Bank's relations with its clients in Canada, focusing on the food sector, especially seafood, sustainable energy and offshore supply vessels and shipping, the sectors that the Bank emphasizes in international markets, in addition to supporting our customers from home markets entering Canada.

S&P credit rating on Glitnir remains unchanged

Tue, 29 Jul 2008 15:30:42 GMT

Standard & Poor's Ratings Services said Monday that its ratings and outlook on Iceland-based Glitnir Bank (A-/Stable/A-2) remain unchanged following the revision of the Republic of Iceland's outlook to negative from stable (Republic of Iceland foreign-currency rating 'AA-/A-1+'; local-currency 'AA+/A-1+').

Moody's affirms Glitnirs Bank's ratings

Tue, 29 Jul 2008 15:30:42 GMT

Moody's Investors Service Friday affirmed the A1 long-term and Prime-1 short-term debt and deposit ratings, with stable outlook, of Iceland's Glitnir Banki hf. as well as the bank's C+ financial strength rating (FSR), which retains a negative outlook, following Glitnir Banki's offer to acquire the Nordic securities broker, Fischer Partners Fondkommission AB, which is headquartered in Sweden. The transaction is subject to approval by the Swedish and Icelandic Financial Supervisory Authorities and is expected to be completed during the third quarter of 2006.

Replay of Glitnir's conference call in relation to Fischer Partners acquistion

Sat, 26 Jan 2008 15:24:25 GMT

Glitnir hosted a telephone conference in relation to the acquisition of Fischer Partners where Bjarni Ármannsson, CEO, spoke about the transaction. To listen to the conference call following numbers, see below, and then dial access code 706930:

UK +44 (0)20 7031 4064
USA +1 954 3340342
Norway +47 2150 1292

For further information please contact Vala Pálsdóttir, Investor Relations, +354 844 4989.

Glitnir acquires Fischer Partners, a leading Swedish brokerage firm

Tue, 29 Jul 2008 15:30:42 GMT

Glitnir banki hf. today announced that it has entered into an agreement with Invik & Co. AB, a listed Swedish finance group, to buy all the shares in Fischer Partners Fondkommission AB (Fischer Partners).

BNbank completes dual-tranche facility of EUR 225 million

Tue, 29 Jul 2008 15:30:41 GMT

BNbank, subsidiary of Glitnir bank, has issued a term loan and revolving credit facility of EUR 225 million.

Conclusions of an IMF mission to Iceland

Tue, 29 Jul 2008 15:30:41 GMT

An IMF mission reports that the medium-term outlook for the Icelandic economy remains enviable. However, at the current juncture, mounting macroeconomic imbalances are concerns that policymakers must promptly address.

Seafood Industry ideally positioned for consolidation

Wed, 30 Jan 2008 14:02:03 GMT

The seafood industry is ideally positioned for consolidation, said Seamus FitzPatrick, founding partner of private equity firm CapVest Limited.

Icelanders awake interest on the Bloomberg

Tue, 29 Jul 2008 15:30:41 GMT

Media showed great interest in a meeting held on the Icelandic economy yesterday. The meeting was arranged by Glitnir Bank in cooperation with the Icelandic Embassy in London and the Icelandic Stock Exchange (ICEX).

Our CEO and the Minister of Finance on CNBC

Tue, 29 Jul 2008 15:30:41 GMT

Árni Mathiesen, Iceland's Finance Minister and Bjarni Armannsson, CEO of Glitnir were interviewed this morning on CNBC. The interview can be viewed here.

Financial Stability in Iceland

Sat, 26 Jan 2008 15:24:24 GMT

The Iceland Chamber of Commerce decided to ask a world leading authority to research the status and future outlook of the Icelandic economy in order to add scholarly weight to the growing debate.

Glitnir's UNION Group acquisition completed

Tue, 29 Jul 2008 15:30:41 GMT

Glitnir Bank hf., Reykjavik/Oslo, today completed the transaction where it purchased 50.1 percent of the shares in the UNION Group ASA. UNION Group will be part of Glitnirs consolidated accounts as of 1st of January 2006.

Video Presentation of Q1 Results

Sat, 26 Jan 2008 15:24:24 GMT

Glitnir hosted a telephone conference in English for analysts and investors on May 2nd where Bjarni Ármannsson, CEO, presented the results and answered questions.

Interview with Bjarni on Bloomberg

Tue, 29 Jul 2008 15:30:41 GMT

Bjarni Ármannsson, CEO of Glitnir was interviewed on Bloomberg this morning. The discussion was on Glitnir´s record profit in first quarter as well as the status of the Icelandic Economy.

Glitnir Bank First Quarter Results of 2006

Tue, 29 Jul 2008 15:30:40 GMT

After-tax profit was ISK 9.1 billion in Q1 2006, tripling from ISK 3.0 billion in Q1 2005. The first quarter is the best quarter ever for the Bank.

Glitnir Bank sells its share in Sjóvá

Tue, 29 Jul 2008 15:30:40 GMT

Glitnir Bank has sold its entire holdings in the insurance company Sjóvá Almennar hf. following an offer received by the Bank for its 33.4% share in the company. The buyer is Milestone ehf., owned by Karl Wernersson and family.

Glitnir UK strengthens it's CIB division with David Zell

Sat, 26 Jan 2008 15:24:24 GMT

David Zell has joined Glitnir ank as the Head of Debt Finance and Loan Syndication. In addition to the aforementioned role, David Zell will act as Deputy to Steinunn Thordardottir as the Managing Director of the UK operation.

Glitnir's presentation of Q1 results

Tue, 29 Jul 2008 15:30:40 GMT

Glitnir will host following presentations and conference calls in relation to publishing Q1 2006 results on May 2nd. An English version of the presentation will be available here the same day.

Glitnir finances acquisition of Food Partners

Tue, 29 Jul 2008 15:30:40 GMT

Duke Street Capital (DSC), the independent private equity fund manager, has acquired Food Partners, a leading supplier of pre-packed sandwiches to food service operators in the UK.

Glitnir's Name Change and New Symbol

Tue, 29 Jul 2008 15:30:38 GMT

The shareholders meeting of Islandsbanki hf. (Islandsbanki - Commercial and Investment Bank - Exchange Member) symbol ISB, which was held on 28 March agreed to change the company's name to Glitnir banki hf.

Glitnir finances acquisition of Office Line

Tue, 29 Jul 2008 15:30:38 GMT

Öflun ehf., the owner of Apple stores in Iceland, Denmark and Sweden, has purchased 89.58% of shares in the Norwegian company Office Line, and made a take-over bid for the rest of the shares.

Glitnir Corporate Finance advises F.W. Bryce, Inc.

Wed, 30 Jan 2008 14:02:23 GMT

The shareholders of Bryce announced today that they have completed the sale of the Company to Nissui USA for an undisclosed amount. Bryce is located in Gloucester, USA, and focuses on the marketing of frozen seafood mainly into the US market and to a lesser extent into Japan and Canada.

Glitnir acquires a majority share in Kreditkort hf.

Tue, 29 Jul 2008 15:30:41 GMT

Glitnir banki hf. (Glitnir) and Kaupþing banki hf. have reached an agreement regarding transactions of shares in Kreditkort hf. (Mastercard Iceland) and Greiðslumiðlun hf. (Visa Iceland).

Bjarni Ármannsson on Bloomberg TV

Tue, 29 Jul 2008 15:30:38 GMT

Thursday 30 March, Bjarni Ármannsson, the CEO of Glitnir, was on Bloomberg TV, discussing the Central Bank of Iceland's decision to raise the Bank's policy interest rate and its implications.

S&P announces Glitnir Banks credit rating of A-

Tue, 29 Jul 2008 15:30:37 GMT

Standard & Poors Rating Services announced today the credit ratings of Glitnir banki hf. (formerly Íslandsbanki hf.): Long-term A-, short-term A-2 and the rating outlook is stable.

Glitnir shows strong capitalisation

Sat, 26 Jan 2008 15:24:24 GMT

A stress test carried out by Icelands Financial Supervisory Authority (FME) on Icelandic banks at year-end 2005 shows that the banks all pass the test, without going below the 8% minimum capital adequacy ratio.

Bakkavör and Glitnir in China

Tue, 29 Jul 2008 15:30:39 GMT

Bakkavör Group has, in cooperation with Glitnir, acquired a 40% stake in Creative Foods, a Chinese salad manufacturer. To facilitate this transaction, Bakkavör Asia, a subsidiary of Bakkavör Group, and Glitnir have established a new company, Bakkavör China. Bakkavör Group holds a 60% stake in the company and Glitnir holds 40%.

Bjarni Ármannsson on CNBC

Tue, 29 Jul 2008 15:30:37 GMT

Wednesday morning Bjarni Ármannsson, CEO of Glitnir sat down with Geoff Cutmore on CNBC Europe to discuss the Icelandic Economy and some of the reports published in the past weeks.

Information on funding and liquidity

Sat, 26 Jan 2008 15:24:24 GMT

The purpose of this document is to give some details to the discussion of funding and funding needs of Glitnir, with some reference to the funding needs of the Icelandic banks. This document clarifies the Banks position and corrects misunderstandings that might have occurred.

Shareholders meeting of Íslandsbanki hf.

Tue, 29 Jul 2008 15:30:37 GMT

A Shareholders Meeting of Íslandsbanki hf. will be held in its headquarters in Kirkjusandur 2, 155 Reykjavík, on Tuesday 28 March 2006, starting at 10 a.m.

Icelandic Banks pass FME stress test

Sat, 26 Jan 2008 15:24:23 GMT

Íslandsbanki adopts the brand Glitnir

Tue, 29 Jul 2008 15:30:36 GMT

Íslandsbanki has changed its brand name to Glitnir, at the same time adopting a new logo and appearance. The banks subsidiaries and offices in five countries will also operate under the Glitnir brand.

New Director at Corporate and Investment Banking

Tue, 19 Aug 2008 15:00:49 GMT

Árni Magnússon has been hired as a Director at Íslandsbanki's (now Glitnir Bank) Corporate and Investment Banking. He will lead the Bank's Center of Excellence in sustainable energy, a sector in which the Bank plans to grow internationally and become one of the world's leading financial institutions.

ISB acquires 50.1 percent of UNION Group

Tue, 29 Jul 2008 15:30:40 GMT

Íslandsbanki hf., ISB, Reykjavik, has signed an agreement to acquire 50.1 percent of the shares in Norways largest and leading brokerage firm and commercial real estate brokerage consultancy.

ISB's acquisition of Norse completed

Tue, 29 Jul 2008 15:30:37 GMT

Íslandsbanki hf., Reykjavik, completed today the transaction where it purchased all shares in Norse Securities ASA. The Icelandic and Norwegian FSAs, Fjarmalaeftirlitid and Kredittilsynet respectively, have given Islandsbanki the formal approval to acquire the companies.

ISB assists and finances Nýsir in Denmark

Tue, 29 Jul 2008 15:30:36 GMT

Nýsir DK, a subsidiary of the Icelandic company Nýsir hf., has acquired all the shares in two real estate companies in Denmark.

Prime Minister Visits London Offices

Tue, 29 Jul 2008 15:30:36 GMT

Icelandic Prime Minister Halldor Asgreimsson and his wife, Sigurjona Sigurdardottir, visited Íslandsbankis London office last Friday. Steinunn Thordardottir, Managing Director, received them and the ministers retinue and showed them the Banks offices.

ISB dividends for 2005

Sat, 26 Jan 2008 15:24:23 GMT

Shareholders, as of 21 February 2006, have the option of receiving half of their dividend for the year 2005 in the form of ISB shares. The shares are issued at ISK 18.60 per share.

ISB finances management LBO of American Seafoods

Tue, 19 Aug 2008 15:00:15 GMT

The management group of American Seafoods and the Company's Alaskan business partner, have gained ownership of substantially all the voting securities in American Seafoods.

Fitch Affirms the Ratings of Íslandsbanki

Tue, 29 Jul 2008 15:30:36 GMT

Fitch Ratings affirmed today the following credit ratings of Íslandsbanki: Long-term A, Short-term F1, Individual B/C and Support 2. The outlook is stable.

ISB's Annual General Meeting and Report

Sat, 26 Jan 2008 15:24:23 GMT

ISB's Annual Report has been released as well as the results of the Annual General Meeting.

Results of ISB Annual Meeting 2006

Tue, 29 Jul 2008 15:30:37 GMT

The following Motions to the Annual General Meeting (AGM) of Íslandsbanki, which will was held on 21 February 2006, were adopted at the Bank´s AGM.

Nominations to the Board of Directors

Tue, 29 Jul 2008 15:30:39 GMT

The deadline for nominations to the Board of Directors of Íslandsbanki hf. has expired. The following persons have been nominated to the board at the Annual General Meeting on 21 February 2006.

Dagur Group sells Sena

Tue, 29 Jul 2008 15:30:34 GMT

Dagsbrún hf. has signed a purchase agreement for all shares in Sena subject to the approval of competition authorities. Islandsbanki Corporate Finance adviced Dagur Group on the sale.

Presentation of Annual Results 2005

Tue, 29 Jul 2008 15:30:34 GMT

Íslandsbanki hosted a telephone conference in English for analysts where Bjarni Armannsson, CEO, presented the annual results of 2005. A recording of the event is available as well as a printed version.

Íslandsbanki 2005 Annual Results

Tue, 29 Jul 2008 15:30:39 GMT

Íslandsbanki showed a record profit in 2005. After-tax profit was ISK 19.1 billion, as compared to ISK 12.0 billion in 2004, increasing by 60%.

Presentation of ISB's Annual Results

Sat, 26 Jan 2008 15:24:23 GMT

Íslandsbanki will publish its annual results 2005 on Tuesday, 31 January. Following presenation and conference calls will be hosted in relation to the publishing.

A new investment firm

Tue, 29 Jul 2008 15:30:38 GMT

Sjóvá, Íslandsbanki and Milestone have established an investment firm, Fjárfestingarfélagið Máttur ehf. The owners´ goal is to establish a strong investment company that can undertake larger projects.

Ker sells Oliufelagid ESSO

Tue, 29 Jul 2008 15:30:38 GMT

The Board of Directors of investment company Ker hf. has announced its decision to sell all of the companys shares in Oliufelagid ESSO ehf. Islandsbanki will arrange the divestment process.

Íslandsbanki raises new equity

Tue, 29 Jul 2008 15:30:39 GMT

Íslandsbanki raises new equity for ISK 19 billion (EUR 252 million).
The price per share was ISK 18.6 and value of the shares ISK 18.6 billion or EUR 252 millions

Athlete of the Year Supports Childrens Charity

Tue, 29 Jul 2008 15:30:35 GMT

Eidur Smari Gudjohnsen, footballer, was the recipient of the 2005 Athlete of the Year award from the Association of Icelandic Sportswriters.

ISB advises in acquisition of Falconforce

Tue, 29 Jul 2008 15:30:33 GMT

RedSquare Invest has acquired the British bookmaker Falconforce in co-operation with the managers of the investment company Metro Racing.

Merger of Pension Funds

Tue, 29 Jul 2008 15:30:33 GMT

Members of the Almenni Pension Fund approved in November the proposal of its Board of Directors for a merger of the Fund with the Doctors Pension Fund as of 1 January 2006. The Members of the Doctors Pension Fund had previously approved a similar proposal.

ISB funds acquisition of Rahbekfish

Tue, 29 Jul 2008 15:30:32 GMT

RedSquare Invest, an Icelandic Investment Holding Company, and Rahbekfisks management have acquired Rahbekfisk, one of the leading European producers of frozen convenience products.

ISB (now Glitnir) to open an office in China

Tue, 29 Jul 2008 15:30:32 GMT

Íslandsbanki hf. (now Glitnir Bank) today announced plans to open a representative office in Shanghai, China, in 2006.

ISB advices and finances IMG acquisition

Sat, 26 Jan 2008 01:30:20 GMT

KPMG in Denmark has agreed to divest its consultancy division Advisory (formerly KPMG Consulting) to a group of experienced employees cooperating with IMG, Icelands leading consultancy. Íslandsbanki has provided financial consulting services in the transaction.

ÍSB acquires the Norwegian brokerage firm Norse

Tue, 29 Jul 2008 15:30:38 GMT

Íslandsbanki hf., Reykjavik, has today signed a letter of intent to buy all shares in Norse Securities ASA and Norse Kapitalforvaltning AS, thereby acquiring a foothold in the Norwegian securities brokerage sector.

Fitch Upgrades ISB's Financial Ratings

Tue, 29 Jul 2008 15:30:32 GMT

Fitch Ratings, the international rating agency, upgraded today Islandsbankis (ISB) Individual rating to B/C from C, and affirmed the other ratings at Long-term A, Short-term F1 and Support 2. The rating Outlook is Stable.

New MD for ISB Americas and Asia

Tue, 29 Jul 2008 15:30:37 GMT

Magnus Bjarnason has been appointed as a new Managing Director for the region of ISB Americas and Asia.

ISB moves to new premises in London

Tue, 29 Jul 2008 15:30:32 GMT

ISB has moved to new premises in London and to celebrate the Bank is holding a champagne reception this evening Thursday November 3rd. The new office is located in the City in the old Westminster Bank building behind the Bank of England.

New long-term credit facility for Havila

Tue, 29 Jul 2008 15:30:32 GMT

Havila Shipping ASA and Islandsbanki announced today that Havila has obtained approximately NOK 250 million for 5 years from the Icelandic bond market, in an issue managed by ISB in Reykjavik and KredittBanken Aalesund in Norway.

Steinunn Thordardottir new MD of ISB London

Tue, 29 Jul 2008 15:30:32 GMT

Steinunn Kristin Thordardottir, Executive Director of Íslandsbanki hf. (ISB) International Corporate Credit, is appointed new Managing Director of ISB London.

Allan Strand Olesen takes on leadership of ISB Luxembourg and ISB Copenhagen

Tue, 29 Jul 2008 15:30:31 GMT

Allan Strand Olesen, who currently serves as Managing Director of ISB Luxembourg S.A., has been made area head of ISBs operations in Benelux, Germany and the Nordic area (outside Norway and Iceland). This coincides with ISB opening an office in Copenhagens old Frederiksgade, close to the Royal Palace, last Friday.

Islandsbanki opens in Copenhagen

Tue, 29 Jul 2008 15:30:35 GMT

Íslandsbanki opened an office in Copenhagen today, Friday. The main role of the office is to enhance its relationships with Nordic businesses and financial institutions, particularly in Denmark.

Íslandsbanki nine months results 2005

Tue, 29 Jul 2008 15:30:31 GMT

Íslandsbanki had a record profit for the first 9 months. After-tax profit for the third quarter was ISK 4,801 million compared with ISK 3,653 million in the third quarter of 2004. After-tax profit for the first nine months of 2005 was ISK 15,358 million compared to ISK 11,010 million in 2004, increased by 40%.

Q3 Results of KredittBanken

Tue, 29 Jul 2008 15:30:31 GMT

Profit in KredittBanken was NOK 10,975 (ISK 111 ) million in the third quarter. Net interest income was NOK 23,384 (ISK 236) million, other income was NOK 5,867 (ISK 59) million. Operating expenses were NOK 15,773 (ISK 159) million. Provision for losses on the loan portfolio shows a re-allocation of NOK 1,787 (ISK 18) million. Pre-tax profit was NOK 15,265 (ISK 154) million.

ISB funds Kate's Cakes management secondary buyout

Wed, 06 Aug 2008 14:30:41 GMT

ISB Leveraged Finance, part of Islandsbanki (ISB), has provided a £12.3m funding package to support a secondary buyout of Kate's Cakes, in a deal which valued the company at £13million (excluding transaction costs). Kates Cakes specializes in high quality hand-made cakes. ISB Leveraged Finance approached the funding as an integrated finance package which included strips of senior debt, mezzanine debt, loan stock and equity. ISB will own 25% of share capital in the company and the management 75%.

Presentation of ISB's Third Quarter Results 2005 on 25 October

Sat, 26 Jan 2008 01:30:20 GMT

Íslandsbanki (ISB) will publish third quarter results for the year 2005 on Tuesday, 25 October. Bjarni Ármannsson, CEO, will present ISB's third quarter results for 2005 for shareholders and market participants on Wednesday, 26 October at 8.30am at Íslandsbanki's headquarters at Kirkjusandur in Reykjavík. Bjarni Ármannsson, CEO, will present the accounts and answer questions. The house opens at 8.15am with breakfast for guests. 

ISB advices on the sale of Typhoo

Tue, 29 Jul 2008 15:30:33 GMT

Premier Foods plc ('Premier') announces that it has agreed to sell its tea business to Apeejay International Tea Limited for £80 million. ISB Corporate Finance acted as an exclusive financial adviser to Premier Foods on the sale of Typhoo.The consideration will be paid in cash and the transaction is expected to complete shortly. Premier will use the proceeds to reduce net debt.

ISB leads new long-term credit facility for Clearwater

Tue, 29 Jul 2008 15:30:31 GMT

Clearwater Seafoods Income Fund (the "Fund") and Íslandsbanki (ISB) announced today that the Funds subsidiary, Clearwater Seafoods Limited Partnership ("Clearwater"), has obtained approximately Canadian $48 million for 5 years from the Icelandic bond market, in an issue managed by ISB. The bonds were issued as part of Clearwaters strategy to continue to diversify its debt profile and access longer-term debt.

Islandsbankis first Global bond issue

Tue, 29 Jul 2008 15:30:27 GMT

Islandsbanki has concluded the sale of a USD 1.05 billion bond offering. The issue was lead managed by joint bookrunners Deutsche Bank, JP Morgan Securities and Nomura Securities and is the Banks first bond issue in Global / US 144a format.

ISB enables strategically important acquisition in the UK seafood industry

Tue, 19 Aug 2008 15:03:28 GMT

FPI Limited, the Canadian-based seafood company, announced today its acquisition of The Seafood Company Limited, a leading importer, processor and distributor of premium chilled and frozen shellfish products in the UK retail marketplace. The acquisition, which is valued at GBP 18.3 million, was enabled by Íslandsbanki, the Icelandic banking group, which specialises in seafood industry banking and business management services.

ISB six months Results 2005

Tue, 29 Jul 2008 15:30:27 GMT

Íslandsbanki had a record profit in the second quarter. After-tax profit for the period was ISK 7,519 million. compared with ISK 2,469 million in the second quarter of 2004. After-tax profit for the first six months of 2005 was ISK 10,557 million compared to ISK 7,357 million in 2004. Comparison figures for 2004 have been restated in accordance with International Financial Reporting Standards.

Good results of KredittBanken

Tue, 29 Jul 2008 15:30:27 GMT

Results of KredittBanken were good the first six months of the year 2005. Banks net profit was NOK 18.9 millions, compared to NOK 7.3 million in first half of 2004. Main factor in the increased result is lower funding cost and an increase in other revenues.

Transfer of ownership of approximately 2/3 share in Sjóvá concluded

Tue, 29 Jul 2008 15:30:27 GMT

Yesterday the sale of and payment for approximately 2/3 share of Íslandsbanki in Sjóvá to Milestone ehf. was formally concluded.

ISB Continues to Finance Salmon Farming Acquisitions in North America

Tue, 29 Jul 2008 15:30:27 GMT

Islandsbanki is proud to announce that it has played a key role in two major acquisitions by Cooke Aquaculture within the past 14 months.

Islandsbanki invests in Bank2 in Norway

Tue, 29 Jul 2008 15:30:28 GMT

Islandsbanki has bought close to a 10% share in the newly founded Bank2 in Norway. Bank2 will be an ordinary commercial bank and supply traditional banking service. The banks primarly focus will be refinancing of restructured debt. The banks aim is to be recognized as an alternative bank which promotes refinancing as an attractive possibility for debt servicing.

Sig. Ágústsson ehf. acquires Hevico A/S

Tue, 29 Jul 2008 15:30:28 GMT

Maran Seafood A/S, a Danish subsidiary of Sig. Ágústsson in Denmark, has acquired the Danish company Hevico A/S. Hevico specialises in the manufacture of smoked trout and is the largest company in its field in Europe. Íslandsbankis Corporate Advisory provided consultancy service on the acquisition, and arranged the financing.

Islandsbanki increasing its focus in North America

Sat, 26 Jan 2008 01:30:19 GMT

Timothy Spanos has joined Islandsbanki (ISB) as a Director in the International Corporate Credit, which is part of the banks Investment Banking Division.

ISB arranges ISK 4 billion bond issue for Aker Seafoods

Tue, 29 Jul 2008 15:30:28 GMT

Islandsbanki (ISB) underwrote a ISK 4 billion bond issue for Aker Seafoods last week, and the banks Capital Markets completed the sale of the bonds Monday to about 20 Icelandic Institutional investors. Through a swap the issuer got NOK 400 million for five years. The bonds are index-linked and will be listed on the ICEX. Aker Seafoods shares were listed on the Norwegian Stock Exchange in May.

ISB (now Glitnir) finances the world's largest geothermal district heating utility in China

Tue, 19 Aug 2008 15:02:34 GMT

Representatives of Enex hf., Orkuveita Reykjavíkur and Íslandsbanki hf. (now Glitnir Bank) on behalf of Enex-Kína ehf. together with representatives of Shanxi CGCO Energy Development Construction Co. Ltd., a subsidiary of, Sinopec and Xianyang City Investment Co., Ltd. today signed a cooperation agreement on construction of a new geothermal district heating system in Xianyang, that is expected to be the world's largest of its kind.

BNbank's Results for the 1st Quarter of 2005

Tue, 29 Jul 2008 15:30:28 GMT

Net profit for the first quarter 2004 ended 31 March 2005 was NOK 60 million. This is a substantial improvement both compared to the same quarter last year and the previous quarter. The marketing campaign in the housing loan market, where BNbank covers the up front registration fee for new customers, started off in the second half of last year and has continued in 2005.

ISB's Results for the 1st Quarter of 2005

Tue, 29 Jul 2008 15:30:28 GMT

ISK 3,038 Million in Earnings after Taxes and 21.7% Return on Equity.

ISB receives approval from the Norwegian Ministry of Finance

Sat, 26 Jan 2008 01:30:19 GMT

Íslandsbanki received an approval from the Norwegian Ministry of Finance on 15 March 2005 for the acquisition of BNbank. All conditions in the Offer Document have been fulfilled.

135 million shares in Íslandsbanki hf. issued as dividends

Sat, 26 Jan 2008 01:30:19 GMT

It was resolved at the Annual General Meeting of Íslandsbanki 22 February 2005 that shareholders should be granted the option of receiving up to half of their dividends in the form of shares in the Bank at the price of ISK 10.65 per share.

Íslandsbanki receives Banking license in Luxembourg

Wed, 20 Aug 2008 13:18:40 GMT

Íslandsbanki has received a Banking license from the Ministry of Finance in Luxembourg. The aim of this move is to further expand the current operations in Luxembourg to include also international Private Banking & Asset Management services, targeted at affluent and high net worth individuals and companies.

ISB Sponsors the Festival of Nations in Reykjavik

Tue, 29 Jul 2008 15:30:28 GMT

The Icelandic Intercultural Centre and Íslandsbanki have signed a partnership agreement under which Íslandsbanki will act as the principal sponsor of the Centres Festival of Nations, to be held in Perlan in Reykjavík on Saturday, February 19.

Nominations to Íslandsbanki's Board of Directors

Tue, 29 Jul 2008 15:30:29 GMT

The deadline for nominations to the Board of Directors of Íslandsbanki hf. expired at 2.00 pm today, 16 February. The following persons have been nominated to the Board at the Annual General Meeting on 22 February 2005.

BN bank: Annual Results for the year 2004

Sat, 26 Jan 2008 01:30:19 GMT

Last year was a very good year for BN bank, in light of a low interest rate environment.

Björn Björnsson to retire from Íslandsbanki

Tue, 29 Jul 2008 15:30:29 GMT

Björn Björnsson, Deputy CEO of Íslandsbanki, has sought to be released from his position for health reasons.

Organisational Changes at Íslandsbanki

Tue, 29 Jul 2008 15:30:29 GMT

Following the departure of Björn Björnsson, Deputy CEO of Íslandsbanki hf., the decision has been made to move Credit Control and the Legal Department under the Banks Finance Division.

Íslandsbanki: Annual Results for the year 2004

Tue, 29 Jul 2008 15:30:29 GMT

Earnings after taxes were ISK 11,445 million in 2004, which is an increase of 96.1% from 2003. Fourth quarter earnings were ISK 1,312 million.

Kredittbanken: Annual Report 2004

Tue, 29 Jul 2008 15:30:29 GMT

The operation of KredittBanken in 2004 experienced a turnaround in 2004, with the Bank returning earnings after taxes of ISK 162 million. The target of the Bank was to reduce write-offs and secure its financing following two consecutive years of losses. Last years profit must be seen as a step in the right direction.

New Shares Listed

Sat, 26 Jan 2008 01:30:20 GMT

New shares of nominal value ISK 1,800,000,000 have been listed on the Main List of Iceland Stock Exchange. The total number of Íslandsbanki shares listed is now ISK 13,000,000,000.

Due diligence on BNbank completed

Sat, 26 Jan 2008 01:30:20 GMT

Íslandsbanki has completed a financial, accounting and legal due diligence on BNbank satisfactory for Íslandsbanki. As a consequence, the condition of satisfactory due diligence has been fulfilled.

Organisational changes at Íslandsbanki

Wed, 20 Aug 2008 13:17:31 GMT

Haukur Oddsson is the new head of Commercial Banking and Operations and Jón Diðrik Jónsson will head Investment Banking. ISB's Board of Directors will utilize an authorisation to issue 300 million additional shares.

Íslandsbanki's rights issue successfully completed

Wed, 06 Aug 2008 14:29:11 GMT

ISB's rights issue was completed yesterday. In it, 1.5 billion shares were offered at ISK 10.65 per share. The total value of the offer was ISK 16 billion (USD 257 million). ISB's Capital Markets managed the rights issue.

Shareholders holding 99.54% of BN bank shares accepted ISB's offer

Tue, 29 Jul 2008 15:30:30 GMT

At the end of the extended acceptance period on 30 December 2004, Íslandsbanki has received acceptances covering 9,709,328 shares in BN bank equalling 99.54% of the outstanding share capital. The acceptance level includes own shares and shares acquired from Sparebanken Øst.

Our hearts reach out to those hurt by the tsunamis

Wed, 20 Aug 2008 13:17:49 GMT

Íslandsbanki has opened up its Internet Bank for donations to the Red Cross. Almost 4 million ISK have been collected this way in addition to the 2 million ISK which Íslandsbanki had already pledged. This is a tragedy that affects us all.

Changes in Management of Íslandsbanki

Tue, 29 Jul 2008 15:30:34 GMT

It has been decided that Jon Thorisson will end his employment as deputy CEO for ISB.

Shareholders holding over 98% of BN bank shares have accepted ISB's offer

Tue, 29 Jul 2008 15:30:34 GMT

Existing shareholders in BN bank holding over 90% of the BN bank shares have accepted Íslandsbanki´s offer of NOK 340 per share. This includes the shares representing approximately 20% of the share capital initially bought from Sparebanken Øst.

Shareholders holding over 90% of BN bank shares have accepted ISB's offer

Tue, 29 Jul 2008 15:30:34 GMT

Íslandsbanki´s rights issue

Tue, 29 Jul 2008 15:30:35 GMT

On 1st December 2004, Íslandsbanki made a voluntary offer to buy the outstanding shares in BN bank ASA. The offer price was NOK 340 per share. The offer period began on 1st December 2004 and ends on Friday 17th December 2004.

Owners of over 2/3 of BNbanks shares have accepted ISB's offer

Tue, 29 Jul 2008 15:30:33 GMT

Owners of over 67% of BN banks shares have accepted Íslandsbanki´s offer of NOK 340 per share. The offer period began on 1st December and ends on Friday 17th December. This includes the 20% share initially bought from Sparebanken Øst.

ISB to launch private banking in Luxembourg

Tue, 29 Jul 2008 15:30:33 GMT

Íslandsbanki will submit a formal application to the Financial Supervisory Authority in Luxembourg for a licence to establish a bank there. The aim of this move is to expand the current operations of Íslandsbanki in Luxembourg and offer international private banking services on a par with the banks international services in other areas.

Íslandsbanki completes successful bond issue

Tue, 29 Jul 2008 15:30:33 GMT

Íslandsbanki has on Monday 6 December closed its inaugural bond issue in Norwegian Kroner.

BN Bank's Board of Directors recommends ISB's Offer

Tue, 29 Jul 2008 15:30:30 GMT

Íslandsbanki received approval from the Norwegian Ministry of Finance on 29 November 2004 to acquire KredittBanken. As a consequence, all conditions pertaining to the acquisition of KredittBanken shares are met.

ISB receives authorisation to acquire all shares in Kredittbanken ASA

Tue, 29 Jul 2008 15:30:30 GMT

The Board of Directors of BN bank has made a statement regarding ISB's voluntary offer to purchase all outstanding shares in Bolig- og Næringsbanken ASA. The board recommends the shareholders of BN bank to accept the offer from Íslandsbanki within the offer period.

Íslandsbanki raises the voluntary offer for BNbank

Tue, 29 Jul 2008 15:30:36 GMT

Íslandsbanki hf. of Reykjavik, Iceland has resolved to raise the banks voluntary offer to buy all outstanding shares in Bolig- og Næringsbanken ASA (BNbank) to a price per share of NOK 340.

ISB has sold its placement

Sat, 26 Jan 2008 01:30:20 GMT

ISB has sold one billion new shares today at an average price of ISK 10.65 per share. The total value of the increase is ISK 10.65 billion. Oversubscription was 50%. Settlement day for investors is Friday November 19. ISB Capital Markets unit sold the placement.

Íslandsbanki makes voluntary offer for BN bank

Tue, 29 Jul 2008 15:30:30 GMT

Íslandsbanki has resolved to make a voluntary offer to purchase all the outstanding shares in Norway's fourth largest commercial bank.

New Board Elected

Sat, 26 Jan 2008 01:30:20 GMT

A shareholders meeting in Íslandsbanki hf. held on 3 November 2004, cancelled of the authority vested in the present Board of Directors and elected a new Board of Directors.

ISB's performance after the first nine months of 2004

Tue, 29 Jul 2008 15:30:30 GMT

The following are the highlights of the reviewed interim Financial Statements of Íslandsbanki for the first nine months of 2004.