New Glitnir Bank cuts interest rates

26.01.2009

- Improving the corporate operating environment and reducing household debt burden a priority

New Glitnir Bank has decided to lower the bank's interest rates on both deposits and loans effective as of today. As a result, the prime rate on Glitnir's non-indexed loans has dropped by 2.85 percentage points, from 21.85% to 19%, since 28 October 2008. The most frequently used penalty interest rate has also dropped by 2.05-3.5 percentage points and interest paid on the leading type of savings accounts by 0.5-2.5 percentage points during this same period.

As an example, this has lowered the interest cost of an overdraft loan to students in Glitnir's loyalty programme Námsvild by ISK 36,000 annually and the cost to individuals in the bank's Gullvild loyalty programme by ISK 25,000.

"Improving the corporate operating environment in Iceland and lightening the debt burden of households as much as possible is a priority. Glitnir's rate cuts are part of this commitment," says Birna Einarsdóttir, CEO of New Glitnir Bank. "The cuts bring us one step closer towards lowering the interest rate level for New Glitnir's customers."

Older news

Íslandsbanki issues EUR 300m bond and announces partial buyback of its 2020 EUR 500m bond

04.04.2019 - IR Releases
Íslandsbanki has today issued a EUR 300m 1.125% fixed rate senior unsecured bond for 3 years, at a spread of 130 basis points over mid-swaps.More

Annual General Meeting 2019 - agenda, candidates and proposals

19.03.2019
The Annual General Meeting of Íslandsbanki hf. will be held on March 21, 2019 at the Bank's headquarters, Hagasmári 3, 201 Kópavogur at 15:00.More

Publication of 2018 Annual Report and Pillar 3 Report

13.02.2019 - IR Releases
Íslandsbanki has published an Annual Report and Pillar 3 Report for 2018. More

Annual Results 2018

13.02.2019 - IR Releases
The Bank and Íslandssjóðir turned in a good operating performance during the year, with a consolidated profit of ISK 10.6bn, while operational...More

Publication of 2018 year-end results

30.01.2019 - IR Releases
Close of business Wednesday, 13 February 2019More

Íslandsbanki to terminate credit rating contract with Fitch Ratings

30.01.2019 - IR Releases
Íslandsbanki informs that following expiration and by agreement of parties, the credit rating service contract between Fitch Ratings and Íslandsbanki...More

Ásmundur Tryggvason to direct Corporate and Investment Banking

23.01.2019
Ásmundur Tryggvason has been engaged as director of Corporate and Investment Banking at Íslandsbanki. He replaces Vilhelm Már Þorsteinsson, who will...More
Netspjall