landsbankinn
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Now And Then: A Tale of Two Bankruptcies
Storage Units become Housing Units Few locations in downtown Reykjavík have shapeshifted as massively in the past two decades as the plot of land extending inland from Reykjavík harbour and Harpa. Or maybe that’s hyperbolic — let’s explore the area. Both of…
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Police Searching For Man Who Attempted To Steal ATM
Police in the capital region are still searching for the man who attempted to steal an ATM from a Landsbanki branch in Hafnarfjörður early Friday morning, reports Vísir. Despite clear surveillance footage capturing the incident, no official appeal for information has been…
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Proportion Of First-Time Apartment Buyers Never Higher Than Now
According to Landsbankinn, in the third quarter this year, almost 34 percent of all buyers of residential housing in the capital area were buying their first apartment. The proportion has never been higher, reports Vísir. [su_pullquote]Icelanders give books to their loved ones…
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Wages In Iceland Up 60% Since 2012
In the years between 2012-2016, wages in Iceland increased 60%, reports VB.is. Wage increased has slowed down recently, but they still remain far above the countries Iceland does most trade with, where the increase was 6-8% in the same period In Sweden…
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Time Capsule: Landsbankinn
In 2013, five years after the financial crisis, one of Iceland’s major banks, Landsbankinn, redesigned its headquarters. Currently Landsbankinn holds all of its operations under one roof at Austurhöfn, which is the original Landsbankinn building and one of the city’s most important…
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As Many Tourists Stay Airbnb As In Hotels In Reykjavík
In the first eight months of 2017, 43% of overnight stays in Reykjavík were in Airbnb apartments and rooms, according to a new report by Landsbankinn. According to the report, the number of overnight hotel stays has decreased since last year, while…
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Icelandic Króna Finally Drops In Value
Yesterday, the Icelandic króna depreciated 1.8% and since the beginning of June it has fallen by 5.2%, reports RÚV. The strong króna has been causing tourists headaches, with already expensive Iceland getting more and more unforgiving. Over the last 12 months the…
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A Timeline Of The PMs Offshore Company, Wintris
The focal point of the current political scandal involving PM Sigmundur Davíð Gunnlaugsson is an offshore company located in an Island called Tortola, a part of the British Virgin Islands in the Caribbean. The company’s name is Wintris Inc. The company was…
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Banks Made Over 80 Billion ISK Last Year
Iceland’s three banks made a combined total of 81.2 billion ISK last year alone, showing an increase of over 25% from 2013. The revelation drew considerable criticism from members of parliament; in particular, from the party leading the government. RÚV reports that…
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Old Landsbankinn Authorized To Pay € 2.6 Billion To Priority Creditors
The Central Bank has authorized the former Landsbankinn’s bankruptcy estate to pay what amounts to 400 billion ISK in foreign currency (ca. € 2.6 billion), to priority creditors. The Central Bank and Finance Ministry announced this on Thursday. The priority creditors seem…
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Finance Minister’s Family Purchase State Assets Behind Closed Doors
Finance Minister Bjarni Benediktsson’s family was granted early access to an unadvertised share sale that allowed them to purchase a stake in Landsbankinn asset Borgun, reports Kjarninn. In all, Landsbankinn sold 31.5% of Borgun shares in this sale to a number of companies. The largest…
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Finance Minister Wants To Sell Landsbankinn
Finance Minister Bjarni Benediktsson has said he wants to sell the government’s shares in Landsbankinn. Bjarni told RÚV that ideally the government would retain 40% ownership and no more than 10-20% of shares would be sold to any one buyer. “Parliament has…
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Landsbankinn Execs Accused Of Fabricating Bank’s Financial Data
Former Landsbankinn executives have been accused of deliberately providing false information about the bank’s situation when they purchased management liability insurance at the beginning of 2008, RÚV reports. These accusations were brought forth in court by a lawyer representing Brit Insurance, following…