Financial Supervisory Authority approves the merger of Byr and Islandsbanki
The Financial Supervisory Authority (FME) has approved the merger between Byr hf. and Íslandsbanki based on the 106th of. Act no. 161/2002 on Financial Institutions. The approval is subject to that the finalization of the merger will be in accordance to company law.
It is the opinion of the Financial Supervisory Authority, with regard to the available data, that Íslandsbanki will, after completion of the merger process, meet the conditions under II. Act no. 161/2002, and other legal requirements and procedures for financial institutions.