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Nýi Landsbanki
Landsbankinn (, ), originally NBI hf., is an Icelandic bank headquartered in Reykjavík. It was established in 2008 by the Icelandic government out of the domestic operations of its predecessor Landsbanki which failed during the 2008–2011 Icelandic financial crisis. It is the largest bank in Iceland and the history of its predecessor goes back to 1885. In 2022 the bank had 35 branches around Iceland. The bank has around 39% market share in the retail market and around 34% in the corporate banking market (2022). In recent years, the bank has faced criticism for shutting down and reducing the opening hours of several of its branches in smaller towns throughout Iceland. History NBI hf. was created 9 October 2008, after the government had taken control of the insolvent Landsbanki two days earlier and decided to split all domestic operations into this new surviving version of the bank, while leaving the remaining foreign operations of Landsbanki for bankruptcy and winding-up proce ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Government-owned Corporation
A state-owned enterprise (SOE) is a business entity created or owned by a national or local government, either through an executive order or legislation. SOEs aim to generate profit for the government, prevent private sector monopolies, provide goods at lower prices, implement government policies, or serve remote areas where private businesses are scarce. The government typically holds full or majority ownership and oversees operations. SOEs have a distinct legal structure, with financial and developmental goals, like making services more accessible while earning profit (such as a state railway). They can be considered as government-affiliated entities designed to meet commercial and state capitalist objectives. Terminology The terminology around the term state-owned enterprise is murky. All three words in the term are challenged and subject to interpretation. First, it is debatable what the term "state" implies (e.g., it is unclear whether municipally owned corporations and ente ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Private Equity
Private equity (PE) is stock in a private company that does not offer stock to the general public; instead it is offered to specialized investment funds and limited partnerships that take an active role in the management and structuring of the companies. In casual usage "private equity" can refer to these investment firms rather than the companies in which they invest. Private-equity capital (economics), capital is invested into a target company either by an investment management company (private equity firm), a venture capital fund, or an angel investor; each category of investor has specific financial goals, management preferences, and investment strategies for profiting from their investments. Private equity can provide working capital to finance a target company's expansion, including the development of new products and services, operational restructuring, management changes, and shifts in ownership and control. As a financial product, a private-equity fund is private capital ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Companies Based In Reykjavík
A company, abbreviated as co., is a legal entity representing an association of legal people, whether natural, juridical or a mixture of both, with a specific objective. Company members share a common purpose and unite to achieve specific, declared goals. Over time, companies have evolved to have the following features: "separate legal personality, limited liability, transferable shares, investor ownership, and a managerial hierarchy". The company, as an entity, was created by the state which granted the privilege of incorporation. Companies take various forms, such as: * voluntary associations, which may include nonprofit organizations * business entities, whose aim is to generate sales, revenue, and profit * financial entities and banks * programs or educational institutions A company can be created as a legal person so that the company itself has limited liability as members perform or fail to discharge their duties according to the publicly declared incorporation pu ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Banks Established In 2008
A bank is a financial institution that accepts deposits from the public and creates a demand deposit while simultaneously making loans. Lending activities can be directly performed by the bank or indirectly through capital markets. As banks play an important role in financial stability and the economy of a country, most jurisdictions exercise a high degree of regulation over banks. Most countries have institutionalized a system known as fractional-reserve banking, under which banks hold liquid assets equal to only a portion of their current liabilities. In addition to other regulations intended to ensure liquidity, banks are generally subject to minimum capital requirements based on an international set of capital standards, the Basel Accords. Banking in its modern sense evolved in the fourteenth century in the prosperous cities of Renaissance Italy but, in many ways, functioned as a continuation of ideas and concepts of credit and lending that had their roots in the ancie ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Banks Of Iceland
The following is a list of banks in Iceland. Contemporary banks Central * Central Bank of Iceland Commercial * Arion Bank (formerly known as ''New Kaupthing'') * Íslandsbanki (formerly known as ''New Glitnir'') * Landsbankinn (formerly known as ''New Landsbanki'') * Kvika banki Investment * Kvika banki * Defunct banks * Askar Capital (privately owned) * Búnaðarbanki (merged with Kaupthing, became KB Bank and later Kaupthing Bank) * Glitnir (previously government-owned, privatized, went back into government hands during the Icelandic financial crisis) * Iðnaðarbanki (merged with Útvegsbanki, Alþýðubanki, Verzlunarbanki and Samvinnubanki) * Íslandsbanki (First Íslandsbanki was founded in 1904, went bankrupt during the Great Depression. Second Íslandsbanki came into existence when the government owned banks Útvegsbanki, Samvinnubanki, Iðnaðarbanki and Verslunarbanki merged. Íslandsbanki was later re-branded as Glitnir Bank, which was taken into ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
2008–2011 Icelandic Financial Crisis
The Icelandic financial crisis was a major financial crisis, economic and political event in Iceland between 2008 and 2010. It involved the default (finance), default of all three of the country's major privately owned commercial banks in late 2008, following problems in refinancing their current liability, short-term debt and a bank run, run on deposits in the Netherlands and the United Kingdom. Relative to the size of its economy, Iceland's systemic banking collapse was the largest of any country in economic history. The crisis led to a severe recession and the 2009 Icelandic financial crisis protests. In the years preceding the crisis, three Icelandic banks, Kaupthing Bank, Kaupthing, Landsbanki and Glitnir (bank), Glitnir, multiplied in size. This expansion was driven by ready access to credit in international financial markets, in particular money markets. As the 2008 financial crisis unfolded, investors perceived the Icelandic banks to be increasingly risky. Trust in the ba ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Bank
A bank is a financial institution that accepts Deposit account, deposits from the public and creates a demand deposit while simultaneously making loans. Lending activities can be directly performed by the bank or indirectly through capital markets. As banks play an important role in financial stability and the economy of a country, most jurisdictions exercise a high degree of Bank regulation, regulation over banks. Most countries have institutionalized a system known as fractional-reserve banking, under which banks hold liquid assets equal to only a portion of their current liabilities. In addition to other regulations intended to ensure accounting liquidity, liquidity, banks are generally subject to minimum capital requirements based on an international set of capital standards, the Basel Accords. Banking in its modern sense evolved in the fourteenth century in the prosperous cities of Renaissance Italy but, in many ways, functioned as a continuation of ideas and concepts o ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Wealth Management
Wealth management (WM) or wealth management advisory (WMA) is an investment advisory service that provides financial management and wealth advisory services to a wide array of clients ranging from affluent to high-net-worth (HNW) and ultra-high-net-worth (UHNW) individuals and families. It is a discipline which incorporates structuring and planning wealth to assist in growing, preserving, and protecting wealth, whilst passing it onto the family in a tax-efficient manner and in accordance with their wishes. Wealth management brings together tax planning, wealth protection, estate planning, succession planning, and family governance. Private wealth management Private wealth management is sought by high-net-worth investors. Generally, this includes advice on the use of various estate planning vehicles, business-succession or stock-option planning, and the occasional use of hedging derivatives for large blocks of stock. Traditionally, the wealthiest retail clients of investment ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Private Banking
Private banking is a general description for banking, investment and other financial services provided by banks and financial institutions primarily serving high-net-worth individuals (HNWIs) – those with very high income or substantial assets. Private banking is presented by those who provide such services as an exclusive subset of wealth management services, provided to particularly affluent clients. The term "private" refers to customer service rendered on a more personal basis than in mass-market retail banking, usually provided via dedicated bank advisers. It has typically consisted of banking services (deposit taking and payments), discretionary asset management, brokerage, limited tax advisory services and some basic concierge services, typically offered through a gateway provided by a single designated relationship manager. History Banking originated in provision of some services of what is now seen as "private" banking. Early Venetian banks provided personal fin ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
