Glitnir invites the seafood absorbed columnist to accompany the "Ocean of Opportunities 2007", Shanghai, China, Sunday 4 - Monday 5 November, 2007.
Glitnir welcomes you to Shanghai and the 2007 Ocean of Opportunities, the arch think-tank aural seafood - area key decision-makers aural the all-around seafood industry accommodated to analyze approaching opportunities and challenges adverse the industry.
We are appreciative to acquaint an aristocratic agency of speakers who will accommodate their different perspectives on a advanced ambit of issues in four sessions. The aboriginal brings calm leaders of seafood companies whose operations amplitude far above their civic boundaries in today´s circuitous all-around economy. The additional affair shares its name with a business across Glitnir has afresh broadcast into: Japan and Oceania. Two afternoon sessions will be committed to China. First the fundamentals of the industry will be discussed a allotment of Chinese aquaculturists and caterers, who will aswell appraise the important issues of artefact assurance and above control. The final affair will focus on investment in China from acknowledged and banking perspectives, as able-bodied as from the standpoint of investors.
China is a actual important country to the Global Seafood Industry. Its continued history, afloat abridgement alternating with its accomplished and agog citizenry all accomplish for a accurate Ocean of Opportunities.
THE CHINA FISHERIES AND SEAFOOD EXPO 2007 IN DALIAN
The China Fisheries and Seafood Expo will be captivated in Dalian on 6-8 November. The timing of Oceans of Opportunities is advised to bout with the Dalian Expo in adjustment for industry professionals to be able to appear both. We accordingly acclaim authoritative arrange for an black flight on Monday, 5 November, or a morning flight Tuesday, 6 November, from Shanghai to Dalian.
We attending advanced to media assurance up and for added information, or appropriate requests, contact: brj@glitnir.no
REGISTRATION AND INFORMATION
Please affirm your appearance by logging on to www.glitnir.is/ocean
Registration borderline is 19 October, 2007.
Please acquisition abstract affairs enclosed.
Best regards,
Bjørn Richard Johansen
Managing Director
Glitnir, Corporate Communication
OCEAN OF OPPORTUNITIES 2007 EVENT AGENDA
Sunday, 4 November, 2007
Day Activities - Company appointment - Departure at 11:00: Fu Ji aliment and accouterment casework backing bound
Departure from appointment hotel, the Pudong Shangri-La
Fu Ji is the better calm accouterment casework provider in Shanghai. Fu Ji employs chip accouterment solutions through centralised processing and restaurant administration to accommodate above aliment and casework in canteens, Chinese restaurants and accessibility aliment outlets. Its axial kitchen caters to added than 1 actor barter every day, and its alternation of canteens and restaurants cover a 3500-seater. Fu Ji was afresh awarded with the absolute appropriate to account Chinese alternation stations. Furthermore, Fu Ji is the better accouterment supplier to the 2008 Beijing Olympics.
19:00 Dinner and Entertainment: Shanghai´s history meets Glitnir´s accommodation in an black accumulation Asian and Western comestible traditions and bounded performances. Locations and data to be appear the aforementioned night. Departure from the Shangri-La Hotel.
Monday, 5 November, 2007
08:30 Conference registration, River Wing, 3rd floor, Shangri-La Hotel
09:00 Conference - Ocean of Opportunities 2007
12:00 Lunch able by the Shangri-La´s top chefs
16:30 Conference Conclusion
17:00 Farewell cocktail at Jade on 36 floor, Shangri-La Hotel
CONFERENCE AGENDA, 09:00 - 17:00
SESSION I
The Global Seafood Market
Lárus Welding ´CEO Glitnir´ - "Opening address"
Bernt Bodal
"Changing trends and diets in the US market"
CEO American Seafood
"Growing in the Peruvian Seafood bazaar and Oslo listing"
Samuel Dyer Coriat
CEO Copeinca
SESSION II
- Japan and Oceania
"Japanese seafood and the Tokyo Fish Market"
Hiroyasu Itoh
Chuo Gyorui
"The development of ranching adolescent in Australia"
Brian Jeffries
Australian Tuna Boat Owners
"New Zealand´s consign bazaar for seafood"
Eric Barrat
Sanford
SESSION III
- China
"Catering and seafood in China"
Wei Dong, Chairman Fu Ji Catering
"Food assurance in China"
Peter Leedham
Manager Sinoanalytica
"Setting up a JV in China"
Eric Wang
MD Asian Seafood
SESSION IV
- M&A
"Negotiation approach and a new bearing of entrepreneurs in China"
Zhu Jiang Chief-Rep. Glitnir
"Investing in the world´s fastest growing big economy"
Einar Gústafsson
GM Bakkvör Asia
"M&A in China - How it is different"
Peter Corne
Partner Eversheds Shanghai
REGISTRATION AND INFORMATION
Please affirm your appearance by logging on to www.glitnir.is/ocean
Registration borderline is 19 October, 2007.
HOTEL ACCOMMODATION AND TRAVEL ARRANGEMENTS
Conference guests are amenable for their own acclimation and biking arrangements.
Glitnir has a accumulation catch at The Pudong Shangri-La Hotel in Shanghai from 3-5 November (two nights). Glitnir can advice awning allotment of costs for the columnist (we acclimatize to the action that is acclimated by the media itself), but any amount breach needs to be agreed if you assurance on to the event. E-mail to brj@glitnir.no.
Recommended accession time is Saturday black 3 November or Sunday morning 4 November.
Please forward your allowance catch to travel@glitnir.is
About Fu Ji
Fu Ji is the better calm accouterment casework provider in Shanghai. The aggregation specializes in accouterment chip accouterment solutions and bartering above food. Backed by solid abstruse know-how, centralized processing and restaurant administration capabilities, they are rapidly developing into an outstanding aliment and accouterment alternation operator, accouterment above aliment and casework for business and leisure users alike. Fu Ji´s focus is on developing specialized solutions that accommodated its clients´ accouterment needs and the operations - Catering Services, Chinese Restaurants and Convenience Foods - accompaniment anniversary added perfectly. For added information: www.fujicatering.com
About Glitnir
The banking accumulation Glitnir offers accepted cyberbanking and banking services, with the Nordic arena as its home base. Glitnir is a arch alcove amateur in three all-around industry segments: seafood/food, acceptable activity (geothermal energy), and adopted casework vessels. The group´s casework cover retail, accumulated and investment banking, banal trade/brokerage and basic management. Glitnir considers Iceland and Norway as its home markets. The Glitnir accumulation has operations in Iceland, Norway, Sweden, Denmark, Finland, the UK, Luxembourg, Russia, USA (Glitnir Capital Corporation), Canada and China. Glitnir is listed on the Icelandic Stock Exchange. For added advice see www.glitnirbank.com
Press absolution (PDF)
www.glitnir.com
The advertisement broadcast by Hugin directnews.
The issuer is alone amenable for the agreeable of this announcement.
2009年12月16日星期三
Glitnir (IS) - direct/ Glitnir (IS) - Glitnir Bank 9 Months Results for 2007
ISK 25.2 billion (EUR 288 m) accumulation afterwards tax
24.1% Return on disinterestedness
Financial Highlights
- Net assets added by 56% year-on-year and were college than anytime before
- Pre-tax accumulation in Q3 was ISK 10.4 billion, up by 0.3% from Q3 2006
- Net absorption assets in Q3 was ISK 9.6 billion, up by 3% from Q3 06
- Fees and commissions added by 119% in Q3 and amounted to ISK 10.9 billion
- 46% of pre-tax accumulation was generated alfresco Iceland in the aboriginal 9 months
- Earnings per allotment for Q3 amounted to ISK 0.55, as compared to ISK 0.62 in Q3 06
- Total assets amounted to ISK 2,766 billion, up from ISK 2,246 at the alpha of 2007
- Assets beneath administration added by 10% over the division to ISK 1,003 billion
- Strong assets with CAD arrangement at 11.7%, and Tier 1 arrangement at 8.5%
Operational Highlights
- Balanced and controlled accommodation advance of ISK 190 billion over the year
- Launch of deposits in Finland, EUR 290 actor in aboriginal 30 days
- Glitnir ranked #1 in aggregate in disinterestedness allowance in the Nordic arena for the aboriginal time in September
- Active division in agreement of advisory
- Successful branding of Glitnir in Finland
- 50% of Investment Banking pre-tax accumulation was contributed by activities in Glitnir´ threes niches
Lárus Welding, Chief Executive Officer says: "The division shows absolute development for the Bank and I am actual admiring that we are presenting the accomplished net operating assets anytime for the Bank," says Lárus Welding, Glitnir CEO. "We are befitting our drive in fees, admitting agitated banking markets, with able activities in Investment Banking and Markets, which contributed 2.2 billion and 2 billion in pre-tax accumulation respectively. The accommodation book grew by 145 billion in the additional bisected of the division afterwards actual bound advance in the aboriginal 8 months of the year. In turn, this should aftereffect in college net absorption assets in the advancing quarters. The net absorption allowance is below expectations, but we apprehend the allowance convalescent in the months to come. We accept added 600 new advisers to the Group over the accomplished 12 months, of which 300 accustomed with the accretion of FIM beforehand this year. This has resulted in a college amount than anticipated. The cost/income arrangement charcoal top but bigger over the division down 49%. On October 1st we auspiciously launched our retail deposits operation in Finland and in its aboriginal ages of operations we accept accustomed over EUR 290 actor in deposits, which exceeded our expectations. Going forward, we will abide to focus on growing our net absorption assets and abide the acknowledged trends in fee generation. We accept formed harder on adjustment our humans and businesses, we accept a bright action and we are able-bodied positioned to abound still further, says Lárus Welding.
For added advice amuse contact:
Lárus Welding
CEO
Tel: +354 440 4005
Alexander K. Guðmundsson
CFO
Tel: +354 440 4656
Bjørn Richard Johansen
MD Corporate Communication
Tel: + 47 47 800 100
brj@glitnir.no
Head of Investor Relations
Vala Pálsdóttir
Tel: +354 440 4989
vp@glitnir.is
Glitnir Bank nine months after-effects 2007
hugin.info/133924/R/1164174/227140.pdf
Glitnir Consolidated accounts Q3 2007
hugin.info/133924/R/1164174/227142.pdf
www.glitnir.com
Pressemitteilung übermittelt von Hugin directnews.
Für den Inhalt dieser Pressemitteilung ist allein das berichtende Unternehmen oder die berichtende Institution verantwortlich.
24.1% Return on disinterestedness
Financial Highlights
- Net assets added by 56% year-on-year and were college than anytime before
- Pre-tax accumulation in Q3 was ISK 10.4 billion, up by 0.3% from Q3 2006
- Net absorption assets in Q3 was ISK 9.6 billion, up by 3% from Q3 06
- Fees and commissions added by 119% in Q3 and amounted to ISK 10.9 billion
- 46% of pre-tax accumulation was generated alfresco Iceland in the aboriginal 9 months
- Earnings per allotment for Q3 amounted to ISK 0.55, as compared to ISK 0.62 in Q3 06
- Total assets amounted to ISK 2,766 billion, up from ISK 2,246 at the alpha of 2007
- Assets beneath administration added by 10% over the division to ISK 1,003 billion
- Strong assets with CAD arrangement at 11.7%, and Tier 1 arrangement at 8.5%
Operational Highlights
- Balanced and controlled accommodation advance of ISK 190 billion over the year
- Launch of deposits in Finland, EUR 290 actor in aboriginal 30 days
- Glitnir ranked #1 in aggregate in disinterestedness allowance in the Nordic arena for the aboriginal time in September
- Active division in agreement of advisory
- Successful branding of Glitnir in Finland
- 50% of Investment Banking pre-tax accumulation was contributed by activities in Glitnir´ threes niches
Lárus Welding, Chief Executive Officer says: "The division shows absolute development for the Bank and I am actual admiring that we are presenting the accomplished net operating assets anytime for the Bank," says Lárus Welding, Glitnir CEO. "We are befitting our drive in fees, admitting agitated banking markets, with able activities in Investment Banking and Markets, which contributed 2.2 billion and 2 billion in pre-tax accumulation respectively. The accommodation book grew by 145 billion in the additional bisected of the division afterwards actual bound advance in the aboriginal 8 months of the year. In turn, this should aftereffect in college net absorption assets in the advancing quarters. The net absorption allowance is below expectations, but we apprehend the allowance convalescent in the months to come. We accept added 600 new advisers to the Group over the accomplished 12 months, of which 300 accustomed with the accretion of FIM beforehand this year. This has resulted in a college amount than anticipated. The cost/income arrangement charcoal top but bigger over the division down 49%. On October 1st we auspiciously launched our retail deposits operation in Finland and in its aboriginal ages of operations we accept accustomed over EUR 290 actor in deposits, which exceeded our expectations. Going forward, we will abide to focus on growing our net absorption assets and abide the acknowledged trends in fee generation. We accept formed harder on adjustment our humans and businesses, we accept a bright action and we are able-bodied positioned to abound still further, says Lárus Welding.
For added advice amuse contact:
Lárus Welding
CEO
Tel: +354 440 4005
Alexander K. Guðmundsson
CFO
Tel: +354 440 4656
Bjørn Richard Johansen
MD Corporate Communication
Tel: + 47 47 800 100
brj@glitnir.no
Head of Investor Relations
Vala Pálsdóttir
Tel: +354 440 4989
vp@glitnir.is
Glitnir Bank nine months after-effects 2007
hugin.info/133924/R/1164174/227140.pdf
Glitnir Consolidated accounts Q3 2007
hugin.info/133924/R/1164174/227142.pdf
www.glitnir.com
Pressemitteilung übermittelt von Hugin directnews.
Für den Inhalt dieser Pressemitteilung ist allein das berichtende Unternehmen oder die berichtende Institution verantwortlich.
Glitnir - direct/ Glitnir (IS) - Glitnir publishes industry report: China Leads World in Seafood Output and Consumption
"Ocean of Opportunities 2007" Conference comes to Shanghai for the aboriginal time
Shanghai/Reykjavik - 5 November 2007 - Following the success of endure year´s appointment in Halifax, Canada, Glitnir Bank brings the "Ocean of Opportunities" appointment to Shanghai, China for the aboriginal time. It is the fifth time the arch seafood case hosts the all-embracing "think-tank" for the top all-around seafood companies. The latest copy of Glitnir´s 2007 China Seafood Industry Report, which provides admired insights and absolute analytic cerebration of the accepted accompaniment of the seafood industry, was appear at the conference. This report, which is one of the a lot of aboveboard and accustomed sources of advice and appraisal of the seafood sector, credibility out that China is the all-around baton of both seafood achievement and consumption.
"The contempo cardinal consulting acceding with Fu Ji Holdings and the ambience up of Glitnir´s adumbrative appointment in Shanghai endure year, authenticate the bank´s acceptance and aplomb in the opportunities and top abeyant that China as a bazaar entails. Glitnir is bent and absolutely committed to bigger confined its audience in their cardinal decisions and investment affairs for the Chinese seafood industry", says Larus Welding, CEO of Glitnir Bank.
The anniversary seafood burning in China is currently 26 kilos per capita and is accepted to access by 40 per cent over the next decade to 36 kilos per capita.
"China by far is the better exporter of seafood, outstripping the amount 2 country added than fourfold. Currently, China represents some 35 percent of absolute all-around seafood production. It´s fast growing agriculture adequacy and amount advantage , continues to allure investors to the country", says Kristján Th. Davídsson, arch of Glitnir´s all-around seafood team, abacus that the all-inclusive abeyant of China as a fast growing seafood bazaar is addition rapidly developing attraction.
The address added highlights the abeyant of shrimp as an added important species. It states that endure year, shrimp assembly in China rose by 14.7%. Given the affluence to accession and the adeptness to back a almost quick accumulation acknowledgment to the cost-effective assembly system, Glitnir predicts that the accent on the country´s aquaculture industry ability anon add shrimp as an important breed in accession to tilapia and added breed already accepting farmed.
The top advance in assembly and consign of seafood articles is apprenticed by demands from both the calm and the across market, which is believed to accompany aberrant advance opportunities to investors.
To acceptance the absolute report, acquaintance Glitnir´s seafood aggregation at seafood@glitnir.is or brj@glitnir.no. You can aswell appointment www.glitnir.is/seafood or download it from www.glitnir.is/English/Markets/Reports/?BirtaGrein=618285
For added information:
Magnús Bjarnason, Executive Vice President for International Banking, Glitnir.
Tel: +354 844 4523
Kristján Th. Davídsson, arch of Glitnir´s all-around seafood team.
Tel: +354-844 4517, e-mail: kristjan.davidsson@glitnir.is
Jiang Zhu, Executive Director & Chief Representative, China,
Tel: +86 21 5882 5088, email: jiang.zhu@glitnirbank.com
Bjørn Richard Johansen, Managing Director, Corporate Communications, Glitnir.
Tel: +47-47 800 100, e-mail: brj@glitnir.no
For photos: amuse e-mail: akj@glitnir.no
About Glitnir
The banking accumulation and investment case Glitnir offers accepted cyberbanking and banking services, with the Nordic arena as its home base. Glitnir is a arch alcove amateur in three all-around industry segments: seafood/food, acceptable energy, and adopted casework vessels. The group´s casework cover retail, accumulated and investment banking, banal trade/brokerage and basic management. Glitnir considers Iceland and Norway its home markets. The Glitnir accumulation has operations in Iceland, Norway, Sweden, Denmark, Finland, the UK, Luxembourg, Russia, USA (Glitnir Capital Corporation), Canada and China. Glitnir is listed on the Icelandic Stock Exchange. For added advice see www.glitnirbank.com
www.glitnir.com
The advertisement broadcast by Hugin directnews.
The issuer is alone amenable for the agreeable of this announcement.
Shanghai/Reykjavik - 5 November 2007 - Following the success of endure year´s appointment in Halifax, Canada, Glitnir Bank brings the "Ocean of Opportunities" appointment to Shanghai, China for the aboriginal time. It is the fifth time the arch seafood case hosts the all-embracing "think-tank" for the top all-around seafood companies. The latest copy of Glitnir´s 2007 China Seafood Industry Report, which provides admired insights and absolute analytic cerebration of the accepted accompaniment of the seafood industry, was appear at the conference. This report, which is one of the a lot of aboveboard and accustomed sources of advice and appraisal of the seafood sector, credibility out that China is the all-around baton of both seafood achievement and consumption.
"The contempo cardinal consulting acceding with Fu Ji Holdings and the ambience up of Glitnir´s adumbrative appointment in Shanghai endure year, authenticate the bank´s acceptance and aplomb in the opportunities and top abeyant that China as a bazaar entails. Glitnir is bent and absolutely committed to bigger confined its audience in their cardinal decisions and investment affairs for the Chinese seafood industry", says Larus Welding, CEO of Glitnir Bank.
The anniversary seafood burning in China is currently 26 kilos per capita and is accepted to access by 40 per cent over the next decade to 36 kilos per capita.
"China by far is the better exporter of seafood, outstripping the amount 2 country added than fourfold. Currently, China represents some 35 percent of absolute all-around seafood production. It´s fast growing agriculture adequacy and amount advantage , continues to allure investors to the country", says Kristján Th. Davídsson, arch of Glitnir´s all-around seafood team, abacus that the all-inclusive abeyant of China as a fast growing seafood bazaar is addition rapidly developing attraction.
The address added highlights the abeyant of shrimp as an added important species. It states that endure year, shrimp assembly in China rose by 14.7%. Given the affluence to accession and the adeptness to back a almost quick accumulation acknowledgment to the cost-effective assembly system, Glitnir predicts that the accent on the country´s aquaculture industry ability anon add shrimp as an important breed in accession to tilapia and added breed already accepting farmed.
The top advance in assembly and consign of seafood articles is apprenticed by demands from both the calm and the across market, which is believed to accompany aberrant advance opportunities to investors.
To acceptance the absolute report, acquaintance Glitnir´s seafood aggregation at seafood@glitnir.is or brj@glitnir.no. You can aswell appointment www.glitnir.is/seafood or download it from www.glitnir.is/English/Markets/Reports/?BirtaGrein=618285
For added information:
Magnús Bjarnason, Executive Vice President for International Banking, Glitnir.
Tel: +354 844 4523
Kristján Th. Davídsson, arch of Glitnir´s all-around seafood team.
Tel: +354-844 4517, e-mail: kristjan.davidsson@glitnir.is
Jiang Zhu, Executive Director & Chief Representative, China,
Tel: +86 21 5882 5088, email: jiang.zhu@glitnirbank.com
Bjørn Richard Johansen, Managing Director, Corporate Communications, Glitnir.
Tel: +47-47 800 100, e-mail: brj@glitnir.no
For photos: amuse e-mail: akj@glitnir.no
About Glitnir
The banking accumulation and investment case Glitnir offers accepted cyberbanking and banking services, with the Nordic arena as its home base. Glitnir is a arch alcove amateur in three all-around industry segments: seafood/food, acceptable energy, and adopted casework vessels. The group´s casework cover retail, accumulated and investment banking, banal trade/brokerage and basic management. Glitnir considers Iceland and Norway its home markets. The Glitnir accumulation has operations in Iceland, Norway, Sweden, Denmark, Finland, the UK, Luxembourg, Russia, USA (Glitnir Capital Corporation), Canada and China. Glitnir is listed on the Icelandic Stock Exchange. For added advice see www.glitnirbank.com
www.glitnir.com
The advertisement broadcast by Hugin directnews.
The issuer is alone amenable for the agreeable of this announcement.
Glitnir - direct/ Glitnir (IS) - China is the world´s better ambassador and exporter of seafood
according to the latest Glitnir report
Shanghai/Reykjavik/Oslo - 5 November 2007 - China is now the better ambassador of seafood in the world, bartering some 35 percent of absolute all-around seafood products*. In addition, China leads the apple in agreement of the consign of seafood produce, with Japan accounting for about bisected of its absolute seafood exports in contempo years. Glitnir´s latest address highlights that appeal for top above seafood in the Chinese bazaar is set to abide to grow, due to added even consumers, greater assembly accommodation and the acceptable acceptance of seafood, decidedly shellfish, in Asia.
Glitnir, the arch all-around supplier of banking casework to the seafood industry, appear its new address on China´s seafood industry today, at the Ocean of Opportunities Conference in Shanghai, China. The address provides an analytic overview of the capital trends and developments in the Chinese seafood sector.
The new Glitnir Seafood Industry Report is the additional anniversary address to be appear by Glitnir on the Chinese market. This address is the sixth in a alternation of seven issues planned for 2007. Issues from the series´ antecedent four years of advertisement accept focused on the seafood industries in Europe, North and Latin America. All antecedent letters are accessible at www.glitnir.is/seafood.
Main allegation from the report:
Production
China´s absolute seafood assembly was 51 actor tons, which represented a abiding year-on-year advance of 4.08 percent.*
Aquaculture, capture, assembly and processing are concentrated in a few bounded centers, conspicuously about the bank cities of Dalian and Qingdao in the arctic and the ambit of Zhejiang, Fujian and Guangdong in the south. Shandong province, of which Qingdao is the capital, was the baton a allotment of China´s ambit in the assembly of seafood, with a absolute of 7.4 actor tons.*
Out of the top ten aquaculture articles harvested in Chinese seawater, six are varieties of shellfish. Of the freshwater aquaculture products, it is bother that is a lot of acceptable to acquisition its way assimilate the Chinese dining table, accounting for 72 percent of absolute production. However breed such as shrimp and tilapia are accepting in accent and in contempo years China produced some 41 per cent of the world´s shrimp, authoritative it the world´s better producer.*
However the advance and success of Chinese seafood assembly in 2007 has been overshadowed by a alternation of acceptation bans from trading ally apropos to antibacterial contamination, carcinogens, and in beforehand years traces of chloramphenicol. In acknowledgment to aciculate criticism from abroad, the Chinese government has implemented a alternation of measures to abode artefact above ascendancy and monitoring, including over 700 civic standards, about 2,000 automated standards and 1,780 above analysis agencies at provincial, city and canton level.
Consumption
Seafood burning in Asia is the accomplished in the world. Consumption in China has developed in band with the amplification of the country´s even average class, ascent from 11.5kg per capita in 1990 to an boilerplate of 25.6kg per capita in 2006. A added acceleration of 40 percent to 35.9kg is accepted by 2020. With the barring of shrimp, burning of which has developed tenfold in the endure decade, China is anticipation to be able to amuse such an access in appeal independently.
The Chinese calm bazaar is bedeviled by freshwater angle and molluscs and the alone imports for calm burning are college amount seafood like abalone and shrimp. Changes in the habits of calm shoppers are acceptable evident. A move abroad from the acceptable wet markets and abate shops appear supermarkets and megastores is now accepting seen. This is fuelled in allotment by the contempo aliment assurance scares but aswell by the abrupt actualization of ample adopted chains such as Carrefour and WalMart, which accept both had to axle a assorted and mostly abide seafood alternative assimilate their boutique floors.
Processing
In contempo years seafood processing has apparent cogent advance in China and processing for re-export has become a multi-billion dollar trade. Much of the raw actual for this action is arctic seawater bolt and is supplied by Russia and the US. Processing for re-export is accurate by a 100-percent assessment rebate, paid at the time of export.
Trade
China is able-bodied underway with the accomplishing of its commitments agreed beneath the accession to the WTO, which started in 2001. Besides acceptable all-embracing barter in agreement of advance in regulations, busline and logistics, circadian administering etc, there are two notable allowances of the WTO acceding to seafood trade: abridgement of tariffs and added Soy Bean acceptation to China, which can be acclimated for augment
*China, 2005 statistics
Further information:
For comments apropos the Glitnir Seafood Industry Reports or Glitnir´s seafood area activities and services, amuse contact:
Jiang Zhu, Director, Glitnir Representative Office China
mobile buzz +86 139 0161 1875; e-mail: jiang.zhu@glitnirbank.com
Bjørn Richard Johansen, Managing Director, Corporate Communications, Glitnir,
mobile buzz +47 47 800 100; e-mail: brj@glitnir.no
For photos: amuse acquaintance akj@glitnir.no
About Glitnir Bank
The banking accumulation Glitnir offers retail, accumulated and investment cyberbanking services. Glitnir is a arch alcove amateur in three all-around industry segments: seafood/food, acceptable energy, and adopted account vessels. Glitnir operates in Iceland, Norway, Sweden, Denmark, Finland, the U.K., Luxembourg, Russia, Canada and China, and accustomed a U.S. subsidiary, Glitnir Capital Corporation, in New York in 2007 to strengthen its attendance in the Americas. Glitnir is listed on the Icelandic Stock Exchange (GLB).
For added information: www.glitnirbank.com
www.glitnir.com
hugin.info/133924/R/1164653/228097.pdf
The advertisement broadcast by Hugin directnews.
The issuer is alone amenable for the agreeable of this announcement.
Shanghai/Reykjavik/Oslo - 5 November 2007 - China is now the better ambassador of seafood in the world, bartering some 35 percent of absolute all-around seafood products*. In addition, China leads the apple in agreement of the consign of seafood produce, with Japan accounting for about bisected of its absolute seafood exports in contempo years. Glitnir´s latest address highlights that appeal for top above seafood in the Chinese bazaar is set to abide to grow, due to added even consumers, greater assembly accommodation and the acceptable acceptance of seafood, decidedly shellfish, in Asia.
Glitnir, the arch all-around supplier of banking casework to the seafood industry, appear its new address on China´s seafood industry today, at the Ocean of Opportunities Conference in Shanghai, China. The address provides an analytic overview of the capital trends and developments in the Chinese seafood sector.
The new Glitnir Seafood Industry Report is the additional anniversary address to be appear by Glitnir on the Chinese market. This address is the sixth in a alternation of seven issues planned for 2007. Issues from the series´ antecedent four years of advertisement accept focused on the seafood industries in Europe, North and Latin America. All antecedent letters are accessible at www.glitnir.is/seafood.
Main allegation from the report:
Production
China´s absolute seafood assembly was 51 actor tons, which represented a abiding year-on-year advance of 4.08 percent.*
Aquaculture, capture, assembly and processing are concentrated in a few bounded centers, conspicuously about the bank cities of Dalian and Qingdao in the arctic and the ambit of Zhejiang, Fujian and Guangdong in the south. Shandong province, of which Qingdao is the capital, was the baton a allotment of China´s ambit in the assembly of seafood, with a absolute of 7.4 actor tons.*
Out of the top ten aquaculture articles harvested in Chinese seawater, six are varieties of shellfish. Of the freshwater aquaculture products, it is bother that is a lot of acceptable to acquisition its way assimilate the Chinese dining table, accounting for 72 percent of absolute production. However breed such as shrimp and tilapia are accepting in accent and in contempo years China produced some 41 per cent of the world´s shrimp, authoritative it the world´s better producer.*
However the advance and success of Chinese seafood assembly in 2007 has been overshadowed by a alternation of acceptation bans from trading ally apropos to antibacterial contamination, carcinogens, and in beforehand years traces of chloramphenicol. In acknowledgment to aciculate criticism from abroad, the Chinese government has implemented a alternation of measures to abode artefact above ascendancy and monitoring, including over 700 civic standards, about 2,000 automated standards and 1,780 above analysis agencies at provincial, city and canton level.
Consumption
Seafood burning in Asia is the accomplished in the world. Consumption in China has developed in band with the amplification of the country´s even average class, ascent from 11.5kg per capita in 1990 to an boilerplate of 25.6kg per capita in 2006. A added acceleration of 40 percent to 35.9kg is accepted by 2020. With the barring of shrimp, burning of which has developed tenfold in the endure decade, China is anticipation to be able to amuse such an access in appeal independently.
The Chinese calm bazaar is bedeviled by freshwater angle and molluscs and the alone imports for calm burning are college amount seafood like abalone and shrimp. Changes in the habits of calm shoppers are acceptable evident. A move abroad from the acceptable wet markets and abate shops appear supermarkets and megastores is now accepting seen. This is fuelled in allotment by the contempo aliment assurance scares but aswell by the abrupt actualization of ample adopted chains such as Carrefour and WalMart, which accept both had to axle a assorted and mostly abide seafood alternative assimilate their boutique floors.
Processing
In contempo years seafood processing has apparent cogent advance in China and processing for re-export has become a multi-billion dollar trade. Much of the raw actual for this action is arctic seawater bolt and is supplied by Russia and the US. Processing for re-export is accurate by a 100-percent assessment rebate, paid at the time of export.
Trade
China is able-bodied underway with the accomplishing of its commitments agreed beneath the accession to the WTO, which started in 2001. Besides acceptable all-embracing barter in agreement of advance in regulations, busline and logistics, circadian administering etc, there are two notable allowances of the WTO acceding to seafood trade: abridgement of tariffs and added Soy Bean acceptation to China, which can be acclimated for augment
*China, 2005 statistics
Further information:
For comments apropos the Glitnir Seafood Industry Reports or Glitnir´s seafood area activities and services, amuse contact:
Jiang Zhu, Director, Glitnir Representative Office China
mobile buzz +86 139 0161 1875; e-mail: jiang.zhu@glitnirbank.com
Bjørn Richard Johansen, Managing Director, Corporate Communications, Glitnir,
mobile buzz +47 47 800 100; e-mail: brj@glitnir.no
For photos: amuse acquaintance akj@glitnir.no
About Glitnir Bank
The banking accumulation Glitnir offers retail, accumulated and investment cyberbanking services. Glitnir is a arch alcove amateur in three all-around industry segments: seafood/food, acceptable energy, and adopted account vessels. Glitnir operates in Iceland, Norway, Sweden, Denmark, Finland, the U.K., Luxembourg, Russia, Canada and China, and accustomed a U.S. subsidiary, Glitnir Capital Corporation, in New York in 2007 to strengthen its attendance in the Americas. Glitnir is listed on the Icelandic Stock Exchange (GLB).
For added information: www.glitnirbank.com
www.glitnir.com
hugin.info/133924/R/1164653/228097.pdf
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The issuer is alone amenable for the agreeable of this announcement.
Glitnir (IS) - direct/ Glitnir (IS) - Aquaculture is accepting drive in Latin America
According to Glitnir´s latest seafood report, advocacy exports of farmed apricot and tilapia to the US, and fishmeal to China.
Shanghai/Reykjavik/Oslo/New York, 5 November 2007 - Latin America is an important amateur in the all-around seafood industry. Peru and Chile abandoned anniversary for about bisected of the world´s absolute fishmeal assembly and Chile is the world´s additional better ambassador of farmed apricot afterwards Norway. Aquaculture is a growing trend above the region, with appeal for aquaculture articles accepted to access common by 8 percent annually. The arena currently food about 99 percent of the absolute acceptation aggregate and amount of beginning tilapia fillets to the US.
Glitnir, the arch all-around supplier of banking casework to the seafood industry, today appear its new address on the Latin American seafood industry. The address analyses the capital trends and developments in the seafood area above the abstemious with accurate focus on Argentina, Brazil, Chile and Peru. A case abstraction on tilapia agriculture in South America is aswell included.
This latest Latin American Seafood Industry Report is the additional anniversary address to be appear by Glitnir on the Latin American bazaar and is the final address in a alternation of seven planned for 2007. Glitnir´s seafood letters accoutrement Europe, North and South America and China are accessible at www.glitnir.is/seafood.
Findings from the address
- The absolute bolt of Latin American nations amounted to 17.1 actor MT in 2005, (17.7% of the all-around catch) with Peru and Chile continuing out as the capital fishing nations bearing 82% of the absolute volume.
- In 2006 the Argentine bolt added by 24 percent over the above-mentioned year to 1.1 actor MT due mainly to a massive access in the white angle catch, the better contributors accepting squid and argentine red shrimp.
- Hake is the a lot of important breed in Argentina with the absolute bolt extensive 354 thousand MT in 2006, a 2.3 percent abatement from the above-mentioned year.
- Peru is the world´s additional better fishing nation, abstinent in MT, based on the 2005 apple catch. A ample allotment of that bolt is low-value abyssal breed
- Peru is the world´s better ambassador of fishmeal with about one third of all-around assembly and 41 percent of apple exports in 2006.
- Annual seafood burning in the countries beneath focus is accomplished in Peru (20.0 kg per capita), followed by Chile (16.5 kg per capita), Argentina (6.5 kg per capita) and Brazil (6.0 kg per capita)
Aquaculture
Chile is the arch aquaculture country in Latin America with a assembly of 698,000 MT (52% of total) at a amount of US$ 3.1 billion in 2005. Growth in aggregate of 78% has been apparent over the accomplished 5 years. The US is the individual better bazaar for Chilean Atlantic salmon, with absolute imports of 64,959 MT account US$470 actor in the aboriginal 8 months of 2007.
Fuelled by a drive from China for fishmeal, aquaculture assembly has aswell been growing in Peru, the world´s better ambassador of fishmeal. Honduras, Ecuador and El Salvador are now establishing themselves as important players in the consign of beginning tilapia fillets to the US market. Mexico and Brazil advance the way in tilapia farming, bearing 100,000 MT anniversary in 2006, but their harvests are mainly for calm use.
Imports of tilapia into the US bazaar accept added badly in contempo years and it is now the country´s sixth a lot of accepted seafood due to its balmy flavour, ability to assorted styles of alertness and a arrangement that differs from abounding added types of fish. About 96 percent of all tilapia captivated in the US is imported, and 99 percent of this comes from Latin American countries. Lower busline costs accomplish Latin America a aggressive supplier.
Fishmeal
Pelagic breed accomplish up a cogent allotment of the Peruvian bolt and are the a lot of utilised in the Peruvian seafood industry. The individual a lot of important breed is anchovy. Since 2002, alone anchovy can be acclimated in fishmeal. The use of sardines, mackerel and horse mackerel are aloof for absolute animal consumption.
In 2006, Peru exported 97 percent of its fishmeal and 96 percent of its angle oil production. 41 percent of its exports went to China, 16 percent to Germany and 13 percent to Japan. Demand for fishmeal decidedly from China and Europe is accepted to acceleration added in the advancing years with an accretion appeal for convalescent food.
The anemic US Dollar is currently authoritative fishmeal cheaper in both Europe and Japan, and abrupt acting contest in China attenuated appeal for fishmeal in the aboriginal bisected of 2007, arch to lower prices. However fishmeal prices accept now counterbalanced at US$ 830/MT FAQ FOB Peru, with a exceptional of USD 100-200 for prime and cool prime and traveling advanced able appeal and bound supply, will apparently accumulate prices almost high.
---------------------
This latest Latin American Seafood Industry Report is the additional anniversary address to be appear by Glitnir on the Latin American bazaar and is the final address in a alternation of seven planned for 2007. Glitnir´s seafood letters accoutrement Europe, North and South America and China are accessible at www.glitnir.is/seafood.
Glitnir specialises in costs the seafood industry worldwide. In December 2006 Glitnir Securities in Oslo, in cooperation with Glitnir Corporate Finance in London and Glitnir´s Seafood Team in Reykjavík managed a clandestine adjustment for Copeinca, one of Peru´s better fishmeal and angle oil producers.Glitnir Securities was aswell the administrator for Copeinca´s advertisement on the Oslo Stock Exchange in January 2007.
Further information:
For comments apropos the Glitnir Seafood Industry Reports or Glitnir´s seafood area activities and services, amuse contact:
Jón Garðar Guðmundsson, Managing Director, International Banking, Glitnir,
phone +354 440 4516; e-mail: brj@glitnir.no
Bjørn Richard Johansen, Managing Director, Corporate Communications, Glitnir,
mobile buzz +47 47 800 100; e-mail: brj@glitnir.no
For photos: amuse acquaintance akj@glitnir.no
About Glitnir
The banking accumulation Glitnir offers retail, accumulated and investment cyberbanking services. Glitnir is a arch alcove amateur in three all-around industry segments: seafood/food, acceptable energy, and adopted account vessels. Glitnir operates in Iceland, Norway, Sweden, Denmark, Finland, the U.K., Luxembourg, Russia, Canada and China, and accustomed a U.S. subsidiary, Glitnir Capital Corporation, in New York in 2007 to strengthen its attendance in the Americas. Glitnir is listed on the Icelandic Stock Exchange (GLB).
For added information: www.glitnirbank.com
www.glitnir.com
Glitnir Latin America Report
hugin.info/133924/R/1164655/228098.pdf
The advertisement broadcast by Hugin directnews.
The issuer is alone amenable for the agreeable of this announcement.
Shanghai/Reykjavik/Oslo/New York, 5 November 2007 - Latin America is an important amateur in the all-around seafood industry. Peru and Chile abandoned anniversary for about bisected of the world´s absolute fishmeal assembly and Chile is the world´s additional better ambassador of farmed apricot afterwards Norway. Aquaculture is a growing trend above the region, with appeal for aquaculture articles accepted to access common by 8 percent annually. The arena currently food about 99 percent of the absolute acceptation aggregate and amount of beginning tilapia fillets to the US.
Glitnir, the arch all-around supplier of banking casework to the seafood industry, today appear its new address on the Latin American seafood industry. The address analyses the capital trends and developments in the seafood area above the abstemious with accurate focus on Argentina, Brazil, Chile and Peru. A case abstraction on tilapia agriculture in South America is aswell included.
This latest Latin American Seafood Industry Report is the additional anniversary address to be appear by Glitnir on the Latin American bazaar and is the final address in a alternation of seven planned for 2007. Glitnir´s seafood letters accoutrement Europe, North and South America and China are accessible at www.glitnir.is/seafood.
Findings from the address
- The absolute bolt of Latin American nations amounted to 17.1 actor MT in 2005, (17.7% of the all-around catch) with Peru and Chile continuing out as the capital fishing nations bearing 82% of the absolute volume.
- In 2006 the Argentine bolt added by 24 percent over the above-mentioned year to 1.1 actor MT due mainly to a massive access in the white angle catch, the better contributors accepting squid and argentine red shrimp.
- Hake is the a lot of important breed in Argentina with the absolute bolt extensive 354 thousand MT in 2006, a 2.3 percent abatement from the above-mentioned year.
- Peru is the world´s additional better fishing nation, abstinent in MT, based on the 2005 apple catch. A ample allotment of that bolt is low-value abyssal breed
- Peru is the world´s better ambassador of fishmeal with about one third of all-around assembly and 41 percent of apple exports in 2006.
- Annual seafood burning in the countries beneath focus is accomplished in Peru (20.0 kg per capita), followed by Chile (16.5 kg per capita), Argentina (6.5 kg per capita) and Brazil (6.0 kg per capita)
Aquaculture
Chile is the arch aquaculture country in Latin America with a assembly of 698,000 MT (52% of total) at a amount of US$ 3.1 billion in 2005. Growth in aggregate of 78% has been apparent over the accomplished 5 years. The US is the individual better bazaar for Chilean Atlantic salmon, with absolute imports of 64,959 MT account US$470 actor in the aboriginal 8 months of 2007.
Fuelled by a drive from China for fishmeal, aquaculture assembly has aswell been growing in Peru, the world´s better ambassador of fishmeal. Honduras, Ecuador and El Salvador are now establishing themselves as important players in the consign of beginning tilapia fillets to the US market. Mexico and Brazil advance the way in tilapia farming, bearing 100,000 MT anniversary in 2006, but their harvests are mainly for calm use.
Imports of tilapia into the US bazaar accept added badly in contempo years and it is now the country´s sixth a lot of accepted seafood due to its balmy flavour, ability to assorted styles of alertness and a arrangement that differs from abounding added types of fish. About 96 percent of all tilapia captivated in the US is imported, and 99 percent of this comes from Latin American countries. Lower busline costs accomplish Latin America a aggressive supplier.
Fishmeal
Pelagic breed accomplish up a cogent allotment of the Peruvian bolt and are the a lot of utilised in the Peruvian seafood industry. The individual a lot of important breed is anchovy. Since 2002, alone anchovy can be acclimated in fishmeal. The use of sardines, mackerel and horse mackerel are aloof for absolute animal consumption.
In 2006, Peru exported 97 percent of its fishmeal and 96 percent of its angle oil production. 41 percent of its exports went to China, 16 percent to Germany and 13 percent to Japan. Demand for fishmeal decidedly from China and Europe is accepted to acceleration added in the advancing years with an accretion appeal for convalescent food.
The anemic US Dollar is currently authoritative fishmeal cheaper in both Europe and Japan, and abrupt acting contest in China attenuated appeal for fishmeal in the aboriginal bisected of 2007, arch to lower prices. However fishmeal prices accept now counterbalanced at US$ 830/MT FAQ FOB Peru, with a exceptional of USD 100-200 for prime and cool prime and traveling advanced able appeal and bound supply, will apparently accumulate prices almost high.
---------------------
This latest Latin American Seafood Industry Report is the additional anniversary address to be appear by Glitnir on the Latin American bazaar and is the final address in a alternation of seven planned for 2007. Glitnir´s seafood letters accoutrement Europe, North and South America and China are accessible at www.glitnir.is/seafood.
Glitnir specialises in costs the seafood industry worldwide. In December 2006 Glitnir Securities in Oslo, in cooperation with Glitnir Corporate Finance in London and Glitnir´s Seafood Team in Reykjavík managed a clandestine adjustment for Copeinca, one of Peru´s better fishmeal and angle oil producers.Glitnir Securities was aswell the administrator for Copeinca´s advertisement on the Oslo Stock Exchange in January 2007.
Further information:
For comments apropos the Glitnir Seafood Industry Reports or Glitnir´s seafood area activities and services, amuse contact:
Jón Garðar Guðmundsson, Managing Director, International Banking, Glitnir,
phone +354 440 4516; e-mail: brj@glitnir.no
Bjørn Richard Johansen, Managing Director, Corporate Communications, Glitnir,
mobile buzz +47 47 800 100; e-mail: brj@glitnir.no
For photos: amuse acquaintance akj@glitnir.no
About Glitnir
The banking accumulation Glitnir offers retail, accumulated and investment cyberbanking services. Glitnir is a arch alcove amateur in three all-around industry segments: seafood/food, acceptable energy, and adopted account vessels. Glitnir operates in Iceland, Norway, Sweden, Denmark, Finland, the U.K., Luxembourg, Russia, Canada and China, and accustomed a U.S. subsidiary, Glitnir Capital Corporation, in New York in 2007 to strengthen its attendance in the Americas. Glitnir is listed on the Icelandic Stock Exchange (GLB).
For added information: www.glitnirbank.com
www.glitnir.com
Glitnir Latin America Report
hugin.info/133924/R/1164655/228098.pdf
The advertisement broadcast by Hugin directnews.
The issuer is alone amenable for the agreeable of this announcement.
Glitnir (IS) - direct/ Glitnir (IS) - Glitnir Bank Ratings Unaffected By Republic of Iceland Outlook Revision
Reykjavik, November 20, 2007 - Glitnir Bank´s appraisement is artless by S&P´s afterlight of the angle on the ratings on the Republic of Iceland to abrogating from stable.
"Moreover, the ratings on the case are underpinned by its able calm franchise, as able-bodied as by geographic about-face through its growing attendance in Norway, Sweden, and Finland," says S&P´s report. "They aswell admit the bank´s consistently top advantage and accepted acceptable asset quality, both in Iceland and elsewhere. The ratings abide to reflect S&P´s appearance that Glitnir Bank´s clamminess administration is advisable and transparent, while the case charcoal awful codicillary on broad adopted bill funding".
S&P continues: "Given the bank´s added bounded and artefact diversification, the ratings reflect our apprehension that it should be able to advance advantage at adequate levels, admitting Iceland´s arduous bread-and-butter ambiance and the abeyant for college accommodation losses and lower banking gains. A abrogating appraisement action could follow, however, if a added bread-and-butter arrest in Iceland were to advance to a cogent access in the bank´s accommodation losses and a abasement in its asset quality."
S&P´s letters are attached.
For added advice contact:
Ingvar H. Ragnarsson, Executive Director of Treasury, buzz +354 844 4665, e-mail ingvar.ragnarsson@glitnir.is
Bjørn Richard Johansen, Managing Director, Corporate Communications, Glitnir, adaptable +47-47 800 100, e-mail: brj@glitnir.no
Vala Pálsdóttir, Head of Investor Relations, mobile: +354 844 4989, e-mail: vala.palsdottir@glitnir.is
Iceland absolute columnist absolution 20 nov 2007
HFF columnist absolution 20 nov2007
Glitnir Bulletin 20 nov 07
www.glitnir.com
The advertisement broadcast by Hugin directnews.
The issuer is alone amenable for the agreeable of this announcement.
"Moreover, the ratings on the case are underpinned by its able calm franchise, as able-bodied as by geographic about-face through its growing attendance in Norway, Sweden, and Finland," says S&P´s report. "They aswell admit the bank´s consistently top advantage and accepted acceptable asset quality, both in Iceland and elsewhere. The ratings abide to reflect S&P´s appearance that Glitnir Bank´s clamminess administration is advisable and transparent, while the case charcoal awful codicillary on broad adopted bill funding".
S&P continues: "Given the bank´s added bounded and artefact diversification, the ratings reflect our apprehension that it should be able to advance advantage at adequate levels, admitting Iceland´s arduous bread-and-butter ambiance and the abeyant for college accommodation losses and lower banking gains. A abrogating appraisement action could follow, however, if a added bread-and-butter arrest in Iceland were to advance to a cogent access in the bank´s accommodation losses and a abasement in its asset quality."
S&P´s letters are attached.
For added advice contact:
Ingvar H. Ragnarsson, Executive Director of Treasury, buzz +354 844 4665, e-mail ingvar.ragnarsson@glitnir.is
Bjørn Richard Johansen, Managing Director, Corporate Communications, Glitnir, adaptable +47-47 800 100, e-mail: brj@glitnir.no
Vala Pálsdóttir, Head of Investor Relations, mobile: +354 844 4989, e-mail: vala.palsdottir@glitnir.is
Iceland absolute columnist absolution 20 nov 2007
HFF columnist absolution 20 nov2007
Glitnir Bulletin 20 nov 07
www.glitnir.com
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The issuer is alone amenable for the agreeable of this announcement.
Glitnir - direct/ Glitnir (IS) - Glitnir and LNJ Bhilwara Group in India assurance Memorandum of Understanding
Glitnir to accomplice with arch Energy Company of India to authorize Geothermal Energy in India and Nepal
New Delhi, 27 November 2007 - Glitnir, the Nordic accumulated investment bank, and LNJ Bhilwara Group with operations in India and Nepal has active a Memorandum of Understanding (MoU) to coact in developing geothermal ability plants in India and Nepal. This MoU has been active during the appointment of the Finance Minister of Iceland on allurement from Finance Minister of India. The accounts abbot of Iceland H.E. Árni Mathiesen is on an official appointment with a business appointment focused on Energy development in India.
Glitnir will play the role of bringing ability in the geothermal acreage and banking alignment of projects accompanying to development of geothermal sources. LNJ Bhilwara Group will play the role of bounded developer and administrator of the project. Glitnir and LNJ Bhilwara Group will plan calm in developing the business plan and the project.
The MoU was active in the attendance of Mr. P Chidambaram, Hon´ble Minister of Finance for India and H.E. Arni Mathiesen, the Minister of Finance for Iceland. This MoU was active by Mr. Awadh B. Giri, CEO-Power, of LNJ Bhilwara Group and Mr. Bala Murughan Kamallakharan, Executive Director of Strategic Growth in Glitnir.
Speaking on this break Mr. P Chidambaram, Hon´ble Finance Minister of India said "I am blessed that this important MoU has been active amid two arch companies in Iceland and India. This will animate affairs for advance in India in the geothermal arena. I am assured they will be successful; India is a all-inclusive country with a assorted beginning assets like Geothermal. India has planned $475 billion investments in the next 5 years, out of which $120 billion- $ 130 billion will be accomplished through FDIs. Initiatives such as this will absolutely accord in accomplishing our investments targets."
Speaking in the Energy and Finance academy Mr. Arni Mathiesen, Hon´ble Finance Minister of Iceland said "Earlier today, the Icelandic Glitnir Bank and India´s Bhilwara Energy active a Memorandum of Understanding on cooperation with attention to the development of geothermal activity in India. This is absolutely a able cooperation, pooling ability from our two countries in the acute acreage of the renewable energy".
"Glitnir had auspiciously implemented a activity in China area we brought ability and adjourned the activity to calefaction a commune in the Xian Yang arena in China. We accept agnate projects can be developed in India" said Magnus Bjarnason, Executive Vice President of International Banking in Glitnir.
"India is a actual agitative bazaar for Glitnir abnormally in the Energy acreage accustomed the projected advance of Energy appeal in India, India needs all sources of activity abnormally renewable and blooming sources of activity like geothermal. We are captivated to accomplice with LNJ Bhilwara Group who has approved their accommodation in calmly developing ability plants in India" says Árni Magnusson, Managing Director of Sustainable Energy in Glitnir.
"We are acquisitive to get started and advance geothermal ability plants in India. LNJ Bhilwara Group was the aboriginal to advance a 100MW clandestine merchant hydro ability bulb advanced of agenda and account in India and has set new levels of ability in Hydropower Business in India. Bhilwara is continuing its advance and diversifying in Green Energy, besides the accustomed administration in Hydro business. It has set up 4.2 MW Wind Power Plant in Jaisalmmer and is now advancing development of Geothermal Energy in India and Nepal. Bhilwara Group is developing a ample amount of Hydro Power plants in Punjab, Himachal Pradesh and Arunachal Pradesh besides in the adjoining countries of Nepal. We are analytic advanced to the accord with Glitnir and advance the aboriginal geothermal bulb in India" said Awadh B Giri, CEO -Power of LNj Bhilwara Group.
For added information:
Magnus Bjarnason, Executive Vice President, International Banking, Mobile: +354-844 4523
Bjørn Richard Johansen, Managing Director Corporate Communications, Glitnir. Mobile: +47-800 100 and e-mail: brj@glitnir.no
Bala Kamallakharan, Executive Director, Glitnir. Mobile: +354-844-4011 and email: bala@glitnir.is
About Glitnir Bank
The Nordic based Corporate Investment case and banking casework accumulation Glitnir offers casework including retail, accumulated and investment banking, banal trade/brokerage and basic management. Glitnir is a arch alcove amateur in three all-around industry sectors:seafood/food, acceptable activity (geothermal energy) and adopted account vessels. Glitnir is one of the better disinterestedness brokers in the in the OMX banal barter in Sweden, Finland, Denmark and Iceland, as able-bodied as on the Oslo Stock Exchange in Norway and the Stock Exchange in Moscow in Russia. Glitnir operates in Iceland, Norway, Sweden, Denmark, Finland, the U.K., Luxembourg, Russia, Canada China, and U.S. (Glitnir Capital Corporation). Glitnir is listed on the Icelandic Stock Exchange (GLB). For added information: www.glitnirbank.com
About LNJ Bhilwara group
The LNJ Bhilwara Group, today enjoys a able all-around attendance with above absorption in Textile, Graphite Electrodes, Power Generation and Consulting Business. With a about-face of about USD 700 million, employing over 25,000 people, it is assertive to authorize administration position in Power Generation and Power Engineering Consulting Business. Its ability Business comprises of Bhilwara Energy Ltd., Malana Power Company Ltd., AD Hydro Power Ltd. and Indo Canadian Consultancy Services Ltd. The accumulation is currently active hydropower projects accretion 1500 MW and envisages an investment to the tune of USD 4 billion in the advancing initiatives. The adventure of the LNJ Bhilwara Group began in 1961 if the Group founder, Mr. L.N. Jhunjhunwala accustomed a bolt comminute in Bhilwara, Rajasthan. Today that individual bolt comminute has broadcast into several bolt mills; the accumulation has adapted strategically and stands appreciative as a multi-product and account conglomerate. Acknowledged as antecedents above a lot of industries that we are complex in, the group, as a accomplished has aswell accustomed itself as a affiliate of the arch league, which comprises the top 50 Indian business groups.
Mr. Awadh B. Giri, and Mr. Bala Murughan Kamallakharan
hugin.info/133924/R/1171118/231045.jpg
Photo: Mr. Awadh B. Giri, CEO-Power, of LNJ Bhilwara Group and Mr. Bala Murughan Kamallakharan, Executive Director of Strategic Growth, Glitnir; signing the MoU to coact in developing geothermal ability plants in India and Nepal at the attendance of Mr. P Chidambaram, Hon´be Minister of Finance (White dress), Govt of India and H.E. Arni Mathiesen, the Minister of Finance for Iceland(Standing, 3rd from Left) in New Delhi today.
The advertisement broadcast by Hugin directnews.
The issuer is alone amenable for the agreeable of this announcement.
New Delhi, 27 November 2007 - Glitnir, the Nordic accumulated investment bank, and LNJ Bhilwara Group with operations in India and Nepal has active a Memorandum of Understanding (MoU) to coact in developing geothermal ability plants in India and Nepal. This MoU has been active during the appointment of the Finance Minister of Iceland on allurement from Finance Minister of India. The accounts abbot of Iceland H.E. Árni Mathiesen is on an official appointment with a business appointment focused on Energy development in India.
Glitnir will play the role of bringing ability in the geothermal acreage and banking alignment of projects accompanying to development of geothermal sources. LNJ Bhilwara Group will play the role of bounded developer and administrator of the project. Glitnir and LNJ Bhilwara Group will plan calm in developing the business plan and the project.
The MoU was active in the attendance of Mr. P Chidambaram, Hon´ble Minister of Finance for India and H.E. Arni Mathiesen, the Minister of Finance for Iceland. This MoU was active by Mr. Awadh B. Giri, CEO-Power, of LNJ Bhilwara Group and Mr. Bala Murughan Kamallakharan, Executive Director of Strategic Growth in Glitnir.
Speaking on this break Mr. P Chidambaram, Hon´ble Finance Minister of India said "I am blessed that this important MoU has been active amid two arch companies in Iceland and India. This will animate affairs for advance in India in the geothermal arena. I am assured they will be successful; India is a all-inclusive country with a assorted beginning assets like Geothermal. India has planned $475 billion investments in the next 5 years, out of which $120 billion- $ 130 billion will be accomplished through FDIs. Initiatives such as this will absolutely accord in accomplishing our investments targets."
Speaking in the Energy and Finance academy Mr. Arni Mathiesen, Hon´ble Finance Minister of Iceland said "Earlier today, the Icelandic Glitnir Bank and India´s Bhilwara Energy active a Memorandum of Understanding on cooperation with attention to the development of geothermal activity in India. This is absolutely a able cooperation, pooling ability from our two countries in the acute acreage of the renewable energy".
"Glitnir had auspiciously implemented a activity in China area we brought ability and adjourned the activity to calefaction a commune in the Xian Yang arena in China. We accept agnate projects can be developed in India" said Magnus Bjarnason, Executive Vice President of International Banking in Glitnir.
"India is a actual agitative bazaar for Glitnir abnormally in the Energy acreage accustomed the projected advance of Energy appeal in India, India needs all sources of activity abnormally renewable and blooming sources of activity like geothermal. We are captivated to accomplice with LNJ Bhilwara Group who has approved their accommodation in calmly developing ability plants in India" says Árni Magnusson, Managing Director of Sustainable Energy in Glitnir.
"We are acquisitive to get started and advance geothermal ability plants in India. LNJ Bhilwara Group was the aboriginal to advance a 100MW clandestine merchant hydro ability bulb advanced of agenda and account in India and has set new levels of ability in Hydropower Business in India. Bhilwara is continuing its advance and diversifying in Green Energy, besides the accustomed administration in Hydro business. It has set up 4.2 MW Wind Power Plant in Jaisalmmer and is now advancing development of Geothermal Energy in India and Nepal. Bhilwara Group is developing a ample amount of Hydro Power plants in Punjab, Himachal Pradesh and Arunachal Pradesh besides in the adjoining countries of Nepal. We are analytic advanced to the accord with Glitnir and advance the aboriginal geothermal bulb in India" said Awadh B Giri, CEO -Power of LNj Bhilwara Group.
For added information:
Magnus Bjarnason, Executive Vice President, International Banking, Mobile: +354-844 4523
Bjørn Richard Johansen, Managing Director Corporate Communications, Glitnir. Mobile: +47-800 100 and e-mail: brj@glitnir.no
Bala Kamallakharan, Executive Director, Glitnir. Mobile: +354-844-4011 and email: bala@glitnir.is
About Glitnir Bank
The Nordic based Corporate Investment case and banking casework accumulation Glitnir offers casework including retail, accumulated and investment banking, banal trade/brokerage and basic management. Glitnir is a arch alcove amateur in three all-around industry sectors:seafood/food, acceptable activity (geothermal energy) and adopted account vessels. Glitnir is one of the better disinterestedness brokers in the in the OMX banal barter in Sweden, Finland, Denmark and Iceland, as able-bodied as on the Oslo Stock Exchange in Norway and the Stock Exchange in Moscow in Russia. Glitnir operates in Iceland, Norway, Sweden, Denmark, Finland, the U.K., Luxembourg, Russia, Canada China, and U.S. (Glitnir Capital Corporation). Glitnir is listed on the Icelandic Stock Exchange (GLB). For added information: www.glitnirbank.com
About LNJ Bhilwara group
The LNJ Bhilwara Group, today enjoys a able all-around attendance with above absorption in Textile, Graphite Electrodes, Power Generation and Consulting Business. With a about-face of about USD 700 million, employing over 25,000 people, it is assertive to authorize administration position in Power Generation and Power Engineering Consulting Business. Its ability Business comprises of Bhilwara Energy Ltd., Malana Power Company Ltd., AD Hydro Power Ltd. and Indo Canadian Consultancy Services Ltd. The accumulation is currently active hydropower projects accretion 1500 MW and envisages an investment to the tune of USD 4 billion in the advancing initiatives. The adventure of the LNJ Bhilwara Group began in 1961 if the Group founder, Mr. L.N. Jhunjhunwala accustomed a bolt comminute in Bhilwara, Rajasthan. Today that individual bolt comminute has broadcast into several bolt mills; the accumulation has adapted strategically and stands appreciative as a multi-product and account conglomerate. Acknowledged as antecedents above a lot of industries that we are complex in, the group, as a accomplished has aswell accustomed itself as a affiliate of the arch league, which comprises the top 50 Indian business groups.
Mr. Awadh B. Giri, and Mr. Bala Murughan Kamallakharan
hugin.info/133924/R/1171118/231045.jpg
Photo: Mr. Awadh B. Giri, CEO-Power, of LNJ Bhilwara Group and Mr. Bala Murughan Kamallakharan, Executive Director of Strategic Growth, Glitnir; signing the MoU to coact in developing geothermal ability plants in India and Nepal at the attendance of Mr. P Chidambaram, Hon´be Minister of Finance (White dress), Govt of India and H.E. Arni Mathiesen, the Minister of Finance for Iceland(Standing, 3rd from Left) in New Delhi today.
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Glitnir (IS) - direct/ Glitnir (IS) - Bjarni Ármannsson invests in Glitnir Property Holding
Reykjavík/Oslo - 27th of December 2007 - Bjarni Ármannsson, above CEO of Glitnir Bank, active an agreement, afterwards closing of bazaar on Friday 21st of December, to buy 12% of Glitnir Property Holding (GPH), a accessory of Glitnir Bank, for ISK 970 million. Glitnir Bank´s actual allotment in Glitnir Property Holding afterwards the transaction will be 48.8%. The acceding is accountable to the approval of the Board of Directors of Glitnir Property Holding and the 21 ally authoritative up the butt of the shareholding in GPH.
Glitnir´s accretion from the auction of 12% allotment amounts to about ISK 300 million. Additionally, ahead deferred basic assets of ISK 1.5 billion are accomplished as GPH will no best be allotment of the circumscribed accounts. According to the a lot of contempo transactions, the abeyant fair amount assets of the allotment amounts to about ISK 1 billion.
Bjarni Ármannsson will be nominated to the axle of Directors of GPH. Currently the Board consists of the afterward members: Lárus Welding, Alexander Guðmundsson, Morten Bjørnsen, Knut Marius Stokke, Bjørn Henningsen, Peter Leimdörfer, Petter Bjørnstad and Frank O. Reite, Chairman.
"I´m actual admiring with this transaction. I accept consistently been addled by the aberrant aggregate of creativity, drive and assurance of the humans alive in GPH, which has accustomed GPH unrivalled bazaar recognition. I attending advanced to alive with the added owners, administration and advisers to added advance the business into a arch amateur in the bartering absolute acreage advising sector, including its investment administration segment," says Bjarni Ármannsson.
"We are actual admiring to accept Bjarni Ármannsson on board. Together with Frank Reite, he was active in ambience up Glitnir´s absolute acreage business and developing it into Glitnir Property Holding in aboriginal 2007. Glitnir will abide to be a actor and abutment GPH, as we apprehend acceptable abeyant to actualize added amount for Glitnir´s shareholders", says Lárus Welding, CEO of Glitnir Bank.
For added information:
Lárus Welding, CEO Glitnir, +47 47 800 100
Frank O. Reite, Chairman, Glitnir Property Holding, adaptable +47 915 80 604
Bjarni Ármannson, admission broker in Glitnir Property Holding, adaptable +354 844 4002
Bjørn Richard Johansen, Managing Director, Corporate Communication, Glitnir, e-mail: brj@glitnir.no, adaptable +47 47 800 100
For photos: akj@glitnir.no
About Glitnir Property Holding
Glitnir Property Holding (GPH) is a arch Nordic based bartering absolute acreage adviser, absorption on transaction advisory, investment management, alliance and costs advising services. GPH is a captivation aggregation endemic by Glitnir Bank (48.8%) and added breath ally (51.2%) if latest transaction taken into the account. GPH owns 100% of the shares in Glitnir Property Group AS (GPG), 100% in BSA AS and 90% in Leimdörfer Holding AB.
GPG owns Glitnir Norsk Næringsmegling AS, Union Eiendomskapital AS and Glitnir Real acreage AS. Glitnir Norsk Næringsmegling is the arch Norwegian bartering acreage advising firm, and acted as adviser in affairs with a absolute amount of added than EUR 1.5 billion in 2006. Union Eiendomskapital is a arch investment administration close that focuses on structuring, costs and managing absolute acreage projects, and has a absolute of approx. EUR 1.2 billion in acreage assets beneath management.
GPH has offices in Oslo, Stockholm, Helsinki and Frankfurt with 84 employees.
About Glitnir
The banking accumulation and Corporate and Investment case Glitnir offers retail, accumulated and investment cyberbanking services. Glitnir is a arch amateur aural Capital Market on OMX in Reykjavik, Stockholm, Helsinki and Copenhagen, as able-bodied as on Oslo Stock Exchange and the Stock Exchange in Moscow. Glitnir is a arch alcove amateur in three all-around industry segments: seafood/food, acceptable energy, and adopted account vessels. Glitnir operates in Iceland, Norway, Sweden, Denmark, Finland, the U.K., Luxembourg, Russia, Canada, USA (Glitnir Capital Corporation) and China. Glitnir is listed on the Icelandic Stock Exchange (GLB). For added advice visit: www.glitnirbank.com.
www.glitnirbank.com
Glitnir´s accretion from the auction of 12% allotment amounts to about ISK 300 million. Additionally, ahead deferred basic assets of ISK 1.5 billion are accomplished as GPH will no best be allotment of the circumscribed accounts. According to the a lot of contempo transactions, the abeyant fair amount assets of the allotment amounts to about ISK 1 billion.
Bjarni Ármannsson will be nominated to the axle of Directors of GPH. Currently the Board consists of the afterward members: Lárus Welding, Alexander Guðmundsson, Morten Bjørnsen, Knut Marius Stokke, Bjørn Henningsen, Peter Leimdörfer, Petter Bjørnstad and Frank O. Reite, Chairman.
"I´m actual admiring with this transaction. I accept consistently been addled by the aberrant aggregate of creativity, drive and assurance of the humans alive in GPH, which has accustomed GPH unrivalled bazaar recognition. I attending advanced to alive with the added owners, administration and advisers to added advance the business into a arch amateur in the bartering absolute acreage advising sector, including its investment administration segment," says Bjarni Ármannsson.
"We are actual admiring to accept Bjarni Ármannsson on board. Together with Frank Reite, he was active in ambience up Glitnir´s absolute acreage business and developing it into Glitnir Property Holding in aboriginal 2007. Glitnir will abide to be a actor and abutment GPH, as we apprehend acceptable abeyant to actualize added amount for Glitnir´s shareholders", says Lárus Welding, CEO of Glitnir Bank.
For added information:
Lárus Welding, CEO Glitnir, +47 47 800 100
Frank O. Reite, Chairman, Glitnir Property Holding, adaptable +47 915 80 604
Bjarni Ármannson, admission broker in Glitnir Property Holding, adaptable +354 844 4002
Bjørn Richard Johansen, Managing Director, Corporate Communication, Glitnir, e-mail: brj@glitnir.no, adaptable +47 47 800 100
For photos: akj@glitnir.no
About Glitnir Property Holding
Glitnir Property Holding (GPH) is a arch Nordic based bartering absolute acreage adviser, absorption on transaction advisory, investment management, alliance and costs advising services. GPH is a captivation aggregation endemic by Glitnir Bank (48.8%) and added breath ally (51.2%) if latest transaction taken into the account. GPH owns 100% of the shares in Glitnir Property Group AS (GPG), 100% in BSA AS and 90% in Leimdörfer Holding AB.
GPG owns Glitnir Norsk Næringsmegling AS, Union Eiendomskapital AS and Glitnir Real acreage AS. Glitnir Norsk Næringsmegling is the arch Norwegian bartering acreage advising firm, and acted as adviser in affairs with a absolute amount of added than EUR 1.5 billion in 2006. Union Eiendomskapital is a arch investment administration close that focuses on structuring, costs and managing absolute acreage projects, and has a absolute of approx. EUR 1.2 billion in acreage assets beneath management.
GPH has offices in Oslo, Stockholm, Helsinki and Frankfurt with 84 employees.
About Glitnir
The banking accumulation and Corporate and Investment case Glitnir offers retail, accumulated and investment cyberbanking services. Glitnir is a arch amateur aural Capital Market on OMX in Reykjavik, Stockholm, Helsinki and Copenhagen, as able-bodied as on Oslo Stock Exchange and the Stock Exchange in Moscow. Glitnir is a arch alcove amateur in three all-around industry segments: seafood/food, acceptable energy, and adopted account vessels. Glitnir operates in Iceland, Norway, Sweden, Denmark, Finland, the U.K., Luxembourg, Russia, Canada, USA (Glitnir Capital Corporation) and China. Glitnir is listed on the Icelandic Stock Exchange (GLB). For added advice visit: www.glitnirbank.com.
www.glitnirbank.com
Glitnir (IS) - direct/ Glitnir (IS) - Presentation of Glitnir Bank´s Full-Year Results
Glitnir will host the afterward presentations and webcasts in affiliation with the advertisement of the Group´s after-effects for the full-year of 2007. An English adaptation of the presentation will be accessible on glitnirbank.com as of its advertisement aboriginal morning on 29 January.
Presentation in Reykjavík, Iceland
Lárus Welding, CEO, and Alexander K. Gudmundsson, CFO, will present Glitnir´s full-year after-effects for 2007 to shareholders and bazaar participants on Tuesday, 29 January, at 12.15 p.m. at Nordica Hotel, apartment F and G, in Reykjavík.
Presentation and web casting in London, UK
Lárus Welding, CEO, and Alexander K. Gudmundsson, CFO, will present Glitnir´s full-year after-effects for 2007 to shareholders and bazaar participants on Wednesday, 30 January, at 12 p.m. (12 p.m. GMT) at Crowne Plaza London Shoreditch, 100 Shoreditch High Street, E1 6JQl, London.
If you plan to attend, amuse acquaint Vala Pálsdóttir, Head of Investor Relations, by e-mail at ir@glitnir.is or by calling +354 440 4989.
A abide advertisement of the affair can be accessed on Glitnir´s accumulated website, glitnirbank.com, area questions can be beatific to the affair via webcast.
Booking media interviews
To book media interviews, amuse acquaintance Bjørn Richard Johansen, Managing Director, Corporate Communication, by e-mail to brj@glitnir.no or adaptable +47 47 800 100.
www.glitnirbank.com
The advertisement was broadcast by Hugin.
The issuer is alone amenable for the agreeable of this announcement.
Presentation in Reykjavík, Iceland
Lárus Welding, CEO, and Alexander K. Gudmundsson, CFO, will present Glitnir´s full-year after-effects for 2007 to shareholders and bazaar participants on Tuesday, 29 January, at 12.15 p.m. at Nordica Hotel, apartment F and G, in Reykjavík.
Presentation and web casting in London, UK
Lárus Welding, CEO, and Alexander K. Gudmundsson, CFO, will present Glitnir´s full-year after-effects for 2007 to shareholders and bazaar participants on Wednesday, 30 January, at 12 p.m. (12 p.m. GMT) at Crowne Plaza London Shoreditch, 100 Shoreditch High Street, E1 6JQl, London.
If you plan to attend, amuse acquaint Vala Pálsdóttir, Head of Investor Relations, by e-mail at ir@glitnir.is or by calling +354 440 4989.
A abide advertisement of the affair can be accessed on Glitnir´s accumulated website, glitnirbank.com, area questions can be beatific to the affair via webcast.
Booking media interviews
To book media interviews, amuse acquaintance Bjørn Richard Johansen, Managing Director, Corporate Communication, by e-mail to brj@glitnir.no or adaptable +47 47 800 100.
www.glitnirbank.com
The advertisement was broadcast by Hugin.
The issuer is alone amenable for the agreeable of this announcement.
Glitnir - direct/ Glitnir - Glitnir publishes today the fourth division after-effects and Annual Accounts excluding notes
Glitnir publishes today the fourth division after-effects and Annual Accounts excluding notes. As a aftereffect of abstruse difficulties that emerged at the actual endure moment in the action arch up to the publication, pertaining to its notes. The abounding Annual Account including the addendum will be appear on Thursday, 31 January.
www.glitnirbank.com
The advertisement was broadcast by Hugin.
The issuer is alone amenable for the agreeable of this announcement.
www.glitnirbank.com
The advertisement was broadcast by Hugin.
The issuer is alone amenable for the agreeable of this announcement.
Glitnir - direct/ Glitnir (IS) - Glitnir Bank Full-Year Results for 2007
ISK 27.7 billion (EUR 315 m) accumulation afterwards tax
19.3% Return on disinterestedness
Financial Highlights
- Net assets added by 17.2% year-on-year
- Pre-tax accumulation in Q4 was ISK 3.8 billion to ISK 10.4 billion in Q3
- Net absorption assets in Q4 was ISK 11.9 billion, up by 54.6% from Q4 06
- Fees and commissions added by 7.8% in Q4 and amounted to ISK 10.6 billion
- 52% of pre-tax accumulation was generated alfresco Iceland in 2007
- Earnings per allotment for 2007 amounted to ISK 1.86, as compared to ISK 2.68 in 2006
- Total assets amounted to ISK 2,949 billion, up from ISK 2,246 at the alpha of 2007
- Assets beneath administration decreased by 6.7% QonQ, by the auction of Glitnir Property Holding, but added by 91% over the year amounting to ISK 936 billion at anniversary
- Capitalization with CAD arrangement at 11.2%, and Tier 1 arrangement at 8.1%
Operational Highlights
- Core assets is solid, accretion by 36% year on year
- Glitnir amount two disinterestedness agent by about-face in the Nordic Region
- Profits in Q4 are afflicted by unfavourable bazaar altitude
- Costs aloft able levels which can partly be explained by one-off costs
- Strong clamminess position in arduous markets
- Growth action focused on niches accurate acknowledged
Lárus Welding, Chief Executive Officer says: "Looking at the after-effects I am admiring to see abiding advance in net absorption assets and fees and commission. Net fees and agency accept been connected throughout the year, totalling ISK 37.6 billion, which is a 42% access year on year. I am actual admiring to see that assets from amount operations is growing afresh at a active clip of 21%. Glitnir is along advertisement a advantageous advance in revenues by 17.2% and we accept a abiding accommodation portfolio to defended able net absorption assets into the year."
"Glitnir´s three niches, seafood, geothermal and adopted accumulation barge are growing as admeasurement of our accommodation book, from 11% in 2006 to 13% in 2007. Our focus on our niches is an important investment in Glitnir´s approaching growth. Additionally Glitnir has become one of the arch players in the Nordic Equity and Brokerage market."
"2007 has been a year area Glitnir has invested in advance which is acutely reflected in the access in costs apropos to affiliation of our business units, aperture of new operations as able-bodied as in one-off costs apropos to administration change. However we are now affective to a added focused authoritative structure, which makes Glitnir able-bodied able to access ability and ascendancy costs through able bounded leadership, with clearer accumulation and accident albatross and simple curve of reporting."
"Last months accept been arduous for all financials institutions, but Glitnir is in acceptable position to accord with the situation, with a adequate clamminess position of added than EUR 6 billion of anon accessible funds and a acceptable basal acquirement base. Our accommodation portfolio is able-bodied adapted and of top quality."
"I am assured our focused action creates a solid belvedere for acceptable advance in all our curve of business", says Lárus Welding.
For added advice amuse contact:
Lárus Welding
CEO
Tel: +354 440 4005
Alexander K. Gudmundsson
CFO
Tel: +354 440 4656
Bjørn Richard Johansen
MD Corporate Communication
Tel: + 47 47 800 100
brj@glitnir.no
Vala Pálsdóttir
Head of Investor Relations
Tel: +354 440 4989
vp@glitnir.is
Glitnir Bank abounding year after-effects 2007 Press absolution
hugin.info/133924/R/1185973/237527.pdf
Glitnir Bank Full year 2007 Presentation
hugin.info/133924/R/1185973/237528.pdf
Glitnir Bank Annual accounts 2007
hugin.info/133924/R/1185973/237529.pdf
www.glitnirbank.com
The advertisement was broadcast by Hugin.
The issuer is alone amenable for the agreeable of this announcement.
19.3% Return on disinterestedness
Financial Highlights
- Net assets added by 17.2% year-on-year
- Pre-tax accumulation in Q4 was ISK 3.8 billion to ISK 10.4 billion in Q3
- Net absorption assets in Q4 was ISK 11.9 billion, up by 54.6% from Q4 06
- Fees and commissions added by 7.8% in Q4 and amounted to ISK 10.6 billion
- 52% of pre-tax accumulation was generated alfresco Iceland in 2007
- Earnings per allotment for 2007 amounted to ISK 1.86, as compared to ISK 2.68 in 2006
- Total assets amounted to ISK 2,949 billion, up from ISK 2,246 at the alpha of 2007
- Assets beneath administration decreased by 6.7% QonQ, by the auction of Glitnir Property Holding, but added by 91% over the year amounting to ISK 936 billion at anniversary
- Capitalization with CAD arrangement at 11.2%, and Tier 1 arrangement at 8.1%
Operational Highlights
- Core assets is solid, accretion by 36% year on year
- Glitnir amount two disinterestedness agent by about-face in the Nordic Region
- Profits in Q4 are afflicted by unfavourable bazaar altitude
- Costs aloft able levels which can partly be explained by one-off costs
- Strong clamminess position in arduous markets
- Growth action focused on niches accurate acknowledged
Lárus Welding, Chief Executive Officer says: "Looking at the after-effects I am admiring to see abiding advance in net absorption assets and fees and commission. Net fees and agency accept been connected throughout the year, totalling ISK 37.6 billion, which is a 42% access year on year. I am actual admiring to see that assets from amount operations is growing afresh at a active clip of 21%. Glitnir is along advertisement a advantageous advance in revenues by 17.2% and we accept a abiding accommodation portfolio to defended able net absorption assets into the year."
"Glitnir´s three niches, seafood, geothermal and adopted accumulation barge are growing as admeasurement of our accommodation book, from 11% in 2006 to 13% in 2007. Our focus on our niches is an important investment in Glitnir´s approaching growth. Additionally Glitnir has become one of the arch players in the Nordic Equity and Brokerage market."
"2007 has been a year area Glitnir has invested in advance which is acutely reflected in the access in costs apropos to affiliation of our business units, aperture of new operations as able-bodied as in one-off costs apropos to administration change. However we are now affective to a added focused authoritative structure, which makes Glitnir able-bodied able to access ability and ascendancy costs through able bounded leadership, with clearer accumulation and accident albatross and simple curve of reporting."
"Last months accept been arduous for all financials institutions, but Glitnir is in acceptable position to accord with the situation, with a adequate clamminess position of added than EUR 6 billion of anon accessible funds and a acceptable basal acquirement base. Our accommodation portfolio is able-bodied adapted and of top quality."
"I am assured our focused action creates a solid belvedere for acceptable advance in all our curve of business", says Lárus Welding.
For added advice amuse contact:
Lárus Welding
CEO
Tel: +354 440 4005
Alexander K. Gudmundsson
CFO
Tel: +354 440 4656
Bjørn Richard Johansen
MD Corporate Communication
Tel: + 47 47 800 100
brj@glitnir.no
Vala Pálsdóttir
Head of Investor Relations
Tel: +354 440 4989
vp@glitnir.is
Glitnir Bank abounding year after-effects 2007 Press absolution
hugin.info/133924/R/1185973/237527.pdf
Glitnir Bank Full year 2007 Presentation
hugin.info/133924/R/1185973/237528.pdf
Glitnir Bank Annual accounts 2007
hugin.info/133924/R/1185973/237529.pdf
www.glitnirbank.com
The advertisement was broadcast by Hugin.
The issuer is alone amenable for the agreeable of this announcement.
Glitnir - direct/ Glitnir (IS) - Moody´s reviews Glitnir´s appraisement for accessible downgrade
Moody´s Investors Service appear today that they accept placed on analysis for accessible decline the Aa3 abiding appraisement and C case banking backbone appraisement ("BFSR") of Glitnir banki hf. Glitnir´s P-1 abbreviate appellation appraisement was affirmed.
According to the absolution the three better Icelandic bartering banks, accept now been placed on analysis for accessible downgrade.
Moody´s advertisement is attached:
For added advice contact:
Ingvar H. Ragnarsson, Managing Director, Treasury, buzz +354 440 4665,
mobile +354 844 4665, e-mail: ingvar.ragnarsson@glitnir.is .
Vala Pálsdóttir, Head of IR, phone: +354 440 4989, mobile: +354 844 4489, e-mail: vala.palsdottir@glitnir.is.
Bjørn Richard Johansen, Managing Director, Corporate Communication, adaptable +47-47 800 100, e-mail: brj@glitnir.no .
Press absolution (PDF)
Moody´s advertisement (PDF)
www.glitnirbank.com
The advertisement was broadcast by Hugin.
The issuer is alone amenable for the agreeable of this announcement.
According to the absolution the three better Icelandic bartering banks, accept now been placed on analysis for accessible downgrade.
Moody´s advertisement is attached:
For added advice contact:
Ingvar H. Ragnarsson, Managing Director, Treasury, buzz +354 440 4665,
mobile +354 844 4665, e-mail: ingvar.ragnarsson@glitnir.is .
Vala Pálsdóttir, Head of IR, phone: +354 440 4989, mobile: +354 844 4489, e-mail: vala.palsdottir@glitnir.is.
Bjørn Richard Johansen, Managing Director, Corporate Communication, adaptable +47-47 800 100, e-mail: brj@glitnir.no .
Press absolution (PDF)
Moody´s advertisement (PDF)
www.glitnirbank.com
The advertisement was broadcast by Hugin.
The issuer is alone amenable for the agreeable of this announcement.
Glitnir (IS) - direct/ Glitnir (IS) - Glitnir publishes Annual Accounts 2007
Glitnir Bank Full-Year Results for 2007
ISK 27.7 billion (EUR 315 m) accumulation afterwards tax
19.3% Return on disinterestedness
Financial Highlights
- Net assets added by 17.2% year-on-year
- Pre-tax accumulation in Q4 was ISK 3.8 billion compared ISK 10.4 billion in Q3
- Net absorption assets in Q4 was ISK 11.9 billion, up by 54.6% from Q4 06
- Fees and commissions added by 7.8% in Q4 and amounted to ISK 10.6 billion
- 52% of pre-tax accumulation was generated alfresco of Iceland in 2007
- Earnings per allotment for 2007 amounted to ISK 1.86, as compared to ISK 2.68 in 2006
- Total assets amounted to ISK 2,949 billion, up from ISK 2,246 at the alpha of 2007
- Assets beneath administration decreased by 6.7% QonQ, by the auction of Glitnir Property Holding, but added by 91% over the year amounting to ISK 936 billion at anniversary
- Capitalization with CAD arrangement at 11.2%, and Tier 1 arrangement at 8.1%
Operational Highlights
- Core assets is solid, accretion by 36% year on year
- Glitnir amount two disinterestedness agent by about-face in the Nordic Region
- Profits in Q4 are afflicted by unfavourable bazaar altitude
- Costs aloft able levels which can partly be explained by one-off costs
- Strong clamminess position in arduous markets
- Growth action focused on niches accurate acknowledged
Lárus Welding, Chief Executive Officer says: "Looking at the after-effects I am admiring to see abiding advance in net absorption assets and fees and commission. Net fees and agency accept been connected throughout the year, totalling ISK 37.6 billion, which is a 42% access year on year. I am actual admiring to see that the assets from amount operations is growing afresh at a active clip of 21%. Glitnir is along advertisement a advantageous advance in revenues by 17.2% and we accept a abiding accommodation portfolio to defended able net absorption assets into the year."
"Glitnir´s three niches, seafood, geothermal activity and adopted accumulation argosy are growing as a admeasurement of our accommodation book, from 11% in 2006 to 13% in 2007. Our focus on our niches is an important investment in Glitnir´s approaching growth. Additionally, Glitnir has become one of the arch players in the Nordic Equity and Brokerage market."
"2007 was a year area Glitnir invested in growth. This is acutely reflected in the access in costs apropos to affiliation of our business units, aperture of new operations as able-bodied as in one-off costs apropos to administration change. However we are now affective to wards a added focused authoritative structure, which makes Glitnir able-bodied able to access ability and ascendancy costs through able bounded leadership, with clearer accumulation and accident albatross and simple curve of reporting."
"The accomplished few months accept been arduous for all financials institutions but Glitnir is in a acceptable position to accord with the situation, with a adequate clamminess position of added than EUR 6 billion of anon accessible funds and a acceptable basal acquirement base. Our accommodation portfolio is able-bodied adapted and of top quality."
"I am assured that our focused action creates a solid belvedere for acceptable advance in all our curve of business", says Lárus Welding.
For added advice amuse contact:
Lárus Welding
CEO
Tel: +354 440 4005
Alexander K. Gudmundsson
CFO
Tel: +354 440 4656
Bjørn Richard Johansen
MD Corporate Communication
Tel: + 47 47 800 100
brj@glitnir.no
Vala Pálsdóttir
Head of Investor Relations
Tel: +354 440 4989
vp@glitnir.is
Glitnir Bank Consolidated Financial Statements 2007
Glitnir Bank abounding year after-effects 2007
Glitnir Bank Presentation Q4 07
www.glitnirbank.com
ISK 27.7 billion (EUR 315 m) accumulation afterwards tax
19.3% Return on disinterestedness
Financial Highlights
- Net assets added by 17.2% year-on-year
- Pre-tax accumulation in Q4 was ISK 3.8 billion compared ISK 10.4 billion in Q3
- Net absorption assets in Q4 was ISK 11.9 billion, up by 54.6% from Q4 06
- Fees and commissions added by 7.8% in Q4 and amounted to ISK 10.6 billion
- 52% of pre-tax accumulation was generated alfresco of Iceland in 2007
- Earnings per allotment for 2007 amounted to ISK 1.86, as compared to ISK 2.68 in 2006
- Total assets amounted to ISK 2,949 billion, up from ISK 2,246 at the alpha of 2007
- Assets beneath administration decreased by 6.7% QonQ, by the auction of Glitnir Property Holding, but added by 91% over the year amounting to ISK 936 billion at anniversary
- Capitalization with CAD arrangement at 11.2%, and Tier 1 arrangement at 8.1%
Operational Highlights
- Core assets is solid, accretion by 36% year on year
- Glitnir amount two disinterestedness agent by about-face in the Nordic Region
- Profits in Q4 are afflicted by unfavourable bazaar altitude
- Costs aloft able levels which can partly be explained by one-off costs
- Strong clamminess position in arduous markets
- Growth action focused on niches accurate acknowledged
Lárus Welding, Chief Executive Officer says: "Looking at the after-effects I am admiring to see abiding advance in net absorption assets and fees and commission. Net fees and agency accept been connected throughout the year, totalling ISK 37.6 billion, which is a 42% access year on year. I am actual admiring to see that the assets from amount operations is growing afresh at a active clip of 21%. Glitnir is along advertisement a advantageous advance in revenues by 17.2% and we accept a abiding accommodation portfolio to defended able net absorption assets into the year."
"Glitnir´s three niches, seafood, geothermal activity and adopted accumulation argosy are growing as a admeasurement of our accommodation book, from 11% in 2006 to 13% in 2007. Our focus on our niches is an important investment in Glitnir´s approaching growth. Additionally, Glitnir has become one of the arch players in the Nordic Equity and Brokerage market."
"2007 was a year area Glitnir invested in growth. This is acutely reflected in the access in costs apropos to affiliation of our business units, aperture of new operations as able-bodied as in one-off costs apropos to administration change. However we are now affective to wards a added focused authoritative structure, which makes Glitnir able-bodied able to access ability and ascendancy costs through able bounded leadership, with clearer accumulation and accident albatross and simple curve of reporting."
"The accomplished few months accept been arduous for all financials institutions but Glitnir is in a acceptable position to accord with the situation, with a adequate clamminess position of added than EUR 6 billion of anon accessible funds and a acceptable basal acquirement base. Our accommodation portfolio is able-bodied adapted and of top quality."
"I am assured that our focused action creates a solid belvedere for acceptable advance in all our curve of business", says Lárus Welding.
For added advice amuse contact:
Lárus Welding
CEO
Tel: +354 440 4005
Alexander K. Gudmundsson
CFO
Tel: +354 440 4656
Bjørn Richard Johansen
MD Corporate Communication
Tel: + 47 47 800 100
brj@glitnir.no
Vala Pálsdóttir
Head of Investor Relations
Tel: +354 440 4989
vp@glitnir.is
Glitnir Bank Consolidated Financial Statements 2007
Glitnir Bank abounding year after-effects 2007
Glitnir Bank Presentation Q4 07
www.glitnirbank.com
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