Press Releases from Kaupthing Bank (12 total)
Kaupthing and SPRON to initiate merger discussions
Kaupthing Bank hf. (\"Kaupthing\") and Sparisjódur Reykjavíkur of nágrennis hf. (\"SPRON\") have decided to enter negotiations on a possible merger between the companies. Negotiations are expected to be completed in approximately four weeks.
Any merger of the companies is subject to the approval of a SPRON shareholders\' meeting, the Board of Directors of Kaupthing, the Icelandic Financial Supervisory Authority, the Icelandic Competition authority and the companies\' creditors.
Further information
For further information…
Kaupthing Bank's results for the first quarter of 2008
Net earnings of ISK 18.7 billion (EUR 184 million)
* Shareholders\' net earnings of ISK 18.7 billion - ISK 20.3 billion in same period of 2007
* Annualised return on equity in Q1 of 23.7%
* Earnings per share of ISK 26.1 versus ISK 27.4 in Q1 2007
* Net interest income up by 31.2% from the same period in 2007
* Net fee and commission income down by 11.3% from the same period in…
Economic Focus - Where is the króna headed?
Kaupthing Research has issued an economic analyze for the outlook for the Icelandic Króna. The conclusion is: Good long-term outlook, but difficult short-term.
The ISK exchange rate bears the hallmarks of an overshooting that will readjust itself in the longer term.
In the short term, however, the króna faces greater uncertainty than before and the immediate direction of the krona is not necessarily up.
Near term developments will principally be determined by…
Kaupthing Bank raises equivalent of EUR 1.3 billion in long-term funding
Kaupthing Bank has concluded a series of bond private placements totalling USD 1,675 million (EUR 1.1 billion) to investors in the US and Europe. Kaupthing has also finalised a bilateral loan of EUR 195 million with a European bank. In comparison the Parent Company has only about EUR 1.1 billion of long-term redemptions for the remainder of the year and FIH has EUR 1.8 billion. The terms of the aforementioned…
Iceland Economic Outlook for Q1 2008
Cooler times ahead
The state of the Icelandic economy has altered since our last forecast, after the deepening of the sub-prime crisis on the international markets. The economy is more cooling down, opening up the possibility that the Central Bank of Iceland will cut interest rates sooner than previously forecast.
Highlights of the forecast:
- Economic growth in 2008 will be low due to decreasing private consumption and fewer investments.…
Kaupthing Bank's results for 2007
Kaupthing Bank reports net earnings of ISK 70.0 billion (EUR 799 million).
- Shareholders\' net earnings for 2007 of ISK 70.0 billion - (ISK 85.3 billion in 2006)
- Shareholders\' net earnings for fourth quarter of ISK 9.8 billion - (ISK 18.1 billion in same period of 2006)
- Return on equity in 2007 of 23.5%.
- Earnings per share of ISK 95.2 (ISK 127.1 in 2006). Earnings per share for fourth…
Iceland - Commercial property market
After sharp increases in commercial property prices last year, the market will grow calmer next year. A cool down in the economy, high interest rates and a vast increase in supply will lead to a slowdown in activity. Growth in service sector - higher concentration of property in the Reykjavik area and both new and old core areas have been growing. There are signs of a slowdown in demand in…
Iceland: Real estate market at crossroads
Housing prices will continue to rise over the coming years. The pace of these rises, however, will slow down considerably. High interest rates, tighter access to loans and a cooling labour market are the factors that will reduce demand. Supply, on the other hand, seems to have peaked and is likely to diminish over the next years – which should help stabilise real estate prices. A turn-around is expected in…
Kaupthing Bank's results for the first nine months of 2007
Reykjavik, Iceland--November 13th 2007--Net earnings of ISK 60.2 billion (EUR 683 million)
- Shareholders\' net earnings for the first nine months of ISK 60.2 billion, increasing by 31.3% compared with the same period in 2006. Earnings decreased, however, by 10.5% between periods taking into account the one-off after-tax profit of ISK 21.4 billion related to Exista in the third quarter of 2006
- Shareholders\' net earnings in the third quarter of ISK…
Kaupthing Bank Luxembourg acquires Robeco Bank Belgium
Reykjavik, Iceland--October 21st 2007--Kaupthing Bank Luxembourg S.A., a subsidiary of Kaupthing Bank hf., has signed an agreement by which Kaupthing Bank Luxembourg S.A. purchases Robeco Bank Belgium.
Robeco Bank Belgium is a small Belgian bank that was founded in 2002 and focuses mainly on private banking and asset management. The bank has 32 employees and is based in Brussels and Antwerp. Robeco Bank Belgium has 6,800 clients. At the…
Kaupthing Bank Acquires NIBC
August 2007--Kaupthing Bank hf. (\"Kaupthing\") today announces that it intends to purchase the entire share capital of NIBC Holding NV (\"NIBC\") for EUR 2,985 million. NIBC represents an excellent strategic fit for Kaupthing in terms of geographic diversification, products and business culture.
Kaupthing Bank hf. (\"Kaupthing\") today announces that it intends to purchase the entire share capital of NIBC Holding NV (\"NIBC\") for EUR 2,985 million. NIBC represents an excellent strategic…
Kaupthing Bank acquires a 20% stake in FiNoble Advisors in India
Kaupthing Bank has signed an agreement to acquire a 20% stake in the Indian investment services company FiNoble Advisors Private Ltd. (FiNoble) with an option to acquire the remaining 80% in five years. The investment creates a foothold for Kaupthing in the fast growing Indian financial market.
FiNoble was founded in 2004 and presently operates out of its office in New Delhi. It has 25 employees and its main…
