Islandsbanki’s share capital increased to ISK 65 billion


A shareholders' meeting of Íslandsbanki held 14 August, agreed to increase the bank's share capital. At the meeting the Minister of Finance, on behalf of the Treasury, subscribed for the entire increase required to raise the bank's capital to ISK 65 bn.

According to the agreement between the Icelandic state and Glitnir's Resolution Committee, Glitnir will have the option of acquiring the bank's entire share capital until 30 September, provided certain conditions are fulfilled.

Birna Einarsdóttir, CEO of Islandsbanki:

"This share capital increase is an important step forward in the reconstruction of Íslandsbanki and the Icelandic financial system. Negotiations with creditors on their potential involvement in the bank will continue. The results of these negotiations will be available by the end of September."

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