Íslandsbanki
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Wife Of Íslandsbanki Board Vice-Chair Accidentally Bought Shares In The Bank
The wife of the vice-chair of Íslandsbanki’s board accidentally bought shares in the bank, reports RÚV. Stefán Pétursson, vice-chair of Íslandsbanki’s board, sent a notice to the stock exchange yesterday stating that his wife had recently been informed that her investment service…
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Íslandsbanki Request Merger With Kvika
On May 27, Íslandsbanki requested a merger with Kvika bank, RÚV reports. Arion bank has also sent a similar request to Kvika, which confirmed this in an announcement at the stock exchange. In the announcement, Kvika’s board is said to review the…
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Ten Percent Of Icelanders Buy A Bank
We’re buying bank shares like it’s 2007 The Icelandic state just sold its remaining shares in Icelandic bank Íslandsbanki, a bank it was forced to take over in 2008 when Iceland’s economy collapsed. In 2021 and 2022, Katrín Jakobsdóttir’s government sold 35…
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Government Starts Íslandsbanki Share Sale
The Ministry of Finance and Economic Affairs has announced its third phase of Íslandsbanki’s share sale. The public is given priority in buying shares. On Thursday, May 8, Alþingi agreed on the sale unanimously. The sale started Tuesday, May 13 and ends…
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Arion Bank Seeks Merger With Íslandsbanki
The board of Arion Bank has announced its interest in initiating merger talks with Íslandsbanki, reports mbl.is. A formal letter has been sent to the chairman and CEO of Íslandsbanki, expressing the bank’s vision for a combined financial institution. In a statement…
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A Smooth Rendition Of Taking Responsibility
A reflection on the resignation of Bjarni Benediktsson On the morning of October 10, Minister of Finance Bjarni Benediktsson held a press conference where he announced his resignation following a ruling by the Parliamentary Ombudsman stating that the minister had not been…
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Minister of Finance Bjarni Benediktsson Resigns
Independence Party MP Bjarni Benediktsson has resigned as Minister of Finance, he announced in a press conference this morning. The announcement comes in the wake of a ruling from the parliamentary ombudsman stating that Bjarni was not qualified to handle the recent…
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How Not To Sell A Bank
Explaining the storm swirling around the sale of Íslandsbanki The saga of Icelanders and banking is a tale that feels as old as time at this point. After taking over control of Íslandsbanki in the wake of the 2008 financial collapse, the…
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Most Icelanders Do Not Trust Government To Handle Bank Sale
The majority of respondents to a poll conducted by Maskína do not trust the government to handle the sale of Íslandsbanki, Vísir reports. As reported, Íslandsbanki has been owned by the Icelandic treasury since the wake of the 2008 financial crash, but…
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Report On Bank Sale Finds Numerous Errors, Finance Minister Back In Spotlight
The Icelandic National Audit Office (INAO) has just released their report on the sale of a 22.5% share of Íslandsbanki last spring that even the government has characterised as deeply flawed. The report states that numerous mistakes were made in the sale…
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RVK Newscast 197: Viðey Island
On this episode of RVK Newscast, Grapevine journalist Josie Anne takes a trip to Viðey, an island off the coast of Reykjavík with a fascinating history. Read on for more information and links! Iceland has topped the gender equality index for the…
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Most Icelanders Unhappy With Íslandsbanki Sale, Believe Law Was Broken
68% of those who participated in a new poll from Gallup on the subject of the controversial sale of 22.5% of Íslandsbanki believe the law was broken, RÚV reports. [su_pullquote]If you appreciate our journalism, join our High Five Club. As well as…
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Íslandsbanki Sale: Pressure On Finance Minister To Resign
Minister of Finance Bjarni Benediktsson is now facing increased calls for his resignation in the wake of the sale of shares in Íslandsbanki, which the government admitted yesterday has been deeply flawed. [su_pullquote]Are you going to Iceland in the near future? Check…
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Íslandsbanki Sale “Did Not Meet Expectations” Of Government, ISFI To Be Shut Down
A statement from the government has been released regarding the sale of the 22.5% share in Íslandsbanki, wherein they say amongst other things that they will call upon Parliament to dissolve Icelandic State Financial Investments (ISFI). The government believes the sale has…
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RVK Newscast 178: Union Leader Fires Her Entire Staff
In today’s Newscast, editor-in-chief of the Reykjavík Grapevine, Valur Grettisson, treats Chief Morale Officer, Pollý, to a trip to her favourite dog park. Oh and there’s some news: the entire staff of a union have been fired, avalanche tragedy and the banking…
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RVK Newscast 177: Banking Scandals Are Back, And Finally Some Trees
Welcome back to RVK Newscast. Editor-in-chief of the Reykjavík Grapevine, Valur Grettisson, and his trusty Chief Morale Officer, Pollý, are in Heiðmörk forest to talk about record numbers of trees in Iceland, banking scandal, and chess celebrations. [su_pullquote]Not in Iceland for a…
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Finance Minister’s Father Amongst Buyers Of Shares Of Íslandsbanki
Yesterday, the Ministry of Finance made public the list of 209 investors who purchased a combined total of a 22.5% share in Íslandsbanki, a bank which has been owned by the Icelandic State Treasury following the 2008 financial crash. [su_pullquote]Not in Iceland…
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Number Of Tourists Likely To Double Next Year
According to Íslandsbanki, the number of tourists in Iceland is likely to increase a lot during next year. This year, around 700,000 people visited the country, reports Vísir. [su_pullquote]You can now take walking tours of Reykjavík with Grapevine crewmembers Valur, Pollý and…
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Icelandic Economic Forecast Downgraded
A leading bank has downgraded its forecasts for levels of Icelandic unemployment and public investment, although its prediction of national economic growth remains unchanged. Íslandsbanki has just released its first financial forecast report since last September, and puts the more pessimistic outlook…
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Icelanders Distrust Finance Minister Over Íslandsbanki Sale
Icelanders have little faith in their country’s Minister of Finance and Economic Affairs to conduct the sale of government-owned bank Íslandsbanki, a survey has revealed. Polling company Market and Media Research questioned 915 Icelanders last week, and the results were reported by…
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Cintamani Goes Bankrupt, Íslandsbanki Selling Its Remaining Products
Icelandic outdoorwear outlet Cintamani has gone bankrupt, MBL reports from an announcement from the company. The bank Íslandsbanki will be selling off the remainder of Cintamani’s products to recoup some of its losses. Cintamani has been operating in Iceland since 1989, originally…
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Over 200 Firings Across Three Icelandic Companies Announced As Unemployment Rises
The firing of over 200 Icelanders across three Icelandic companies have been announced in the past 24 hours alone. Meanwhile, unemployment has risen since last July. The firing of 100 people from Arion Bank reported on earlier today is only the tip…
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“Don’t Give Up! It Is Possible!”
Last week, Icelanders woke up to find that the front page of the newspaper Fréttablaðið was now a full page ad. This was not unusual in itself, but the ad’s purpose ended up kicking off a veritable cyclone of rage. The ad…