Islandsbanki eligible to acquire a qualifying holding in Byr
On 26 September, the Financial Supervisory Authority concluded that Íslandsbanki is eligible to acquire a qualifying holding in Byr to the extent that BYR hf. can be considered a subsidiary bank, cf. VI. Act no. 161/2002 on Financial Undertakings.
The proposed merger is still being evaluated by the Icelandic Competition Authority.