Íslandsbanki publishes a Risk Report
The objective of Íslandsbanki’s Risk Report is to provide market participants and other stakeholders with information that facilitates a better understanding of Íslandsbanki’s risk profile and capital adequacy, and thus comply with Basel disclosure requirements. The Risk Report presents comprehensive information on the Bank’s risk governance, risk assessment processes, material risk exposures, capital adequacy and capital composition. In addition, it provides detailed information about the restructuring and recalculation of distressed debt which have been key tasks since the establishment of the Bank in 2008. The Risk Report also gives a short introduction to the main domestic legislative and regulatory changes, as well as information on the Bank’s remuneration policy. At year-end 2012 the Bank was in compliance with its defined risk appetite and all regulatory requirements were fulfilled.
The Risk Report can be found on the Bank’s website: www.islandsbanki.is/riskreport
Sverrir Örn Þorvaldsson, Chief Risk Officer:
"The Risk Report is modelled on the best practise of many of its international peers, sets a disclosure standard in Iceland and fulfils the requirements of Pillar 3 of the Basel framework. The Bank believes that an open and transparent disclosure is essential in building confidence and maintaining good relations with its shareholders and other stakeholders. The Risk Report increases the transparency and provides market participants with information that helps facilitate a better understanding of Íslandsbanki’s risk profile, its risk management processes and its capital adequacy."