Category: Banks. Country: Iceland.
Islandsbanki (name changed from Islandsbanki-FBA in 2001) was formed in May 2000, when the shareholders of Islandsbanki and FBA - The Icelandic Investment Bank, approved a merger of the two banks. With the merger the new bank assumed all operations, assets, liabilities, and obligations of the two banks. This created the largest financial group in Iceland and the largest company listed on the Iceland Stock Exchange. The predecessor banks both had been created in a merger of financial insititutions that played important part in the remarkable economic progress of the Icelandic economy in the 20th century. FBA - The Icelandic Investment Bank entered the merger as Iceland's leading investment bank. FBA commenced operations in January 1998 following a merger of three state-owned investment credit funds: The Fisheries Investment Fund (est. in 1905). The Industrial Loan Fund (est. in 1935). The Industrial Development Fund (est. in 1970). The funds were the main providers of long-term credit to Icelandic industries for most of the twentieth century. FBA took over the commercial lending activities of the funds and broadened the scope of business. FBA was privatised in 1998 and 1999. Islandsbanki (the former) entered the merger as Iceland's second largest commercial bank and the only one in private ownership. Islandsbanki was established in January 1990 with a merger of four banks: The Fisheries Bank of Iceland (est. in 1930). The Industrial Bank of Iceland (est. in 1953). Iceland Bank of Commerce (est. in 1961). The Union Bank (est. in 1970). The merger was an important step in the restructuring of the banking industry in Iceland. All of Islandsbanki's predecessors, except The Fisheries Bank, were privately held by interest groups within different sectors. Islandsbanki was listed on the Iceland Stock Exchange in 1993. Global Operations: Denmark, Iceland, Luxembourg, Norway, United Kingdom. Online Banking.
Address: Phone: 354 440 4000 Fax: 354 440 4001
