From Iceland — Deutsche Bank Buys Icesave Debt

Deutsche Bank Buys Icesave Debt

Published August 28, 2014

Nanna Árnadóttir
Photo by
Wikimedia Commons

The Netherlands has sold its claims on the estate of the failed Icelandic bank Landsbanki to Deutsche Bank, reports RÚV.

“I am pleased that the sale has enabled the Dutch state to get its money back quickly,” Finance Minister Jeroen Dijsselbloem told Bloomberg.

The Dutch Finance ministry has now recouped all of the €1.43 billion euros ($1.89 billion) the country paid out to compensate Dutch depositors with Icesave accounts after Landsbanki failed in 2008.

The Dutch Finance Ministry said the sale of the remaining claims to investors had yielded about €623 million euros.

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