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.
2009年12月16日星期三
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.
Kaupthing Bank - Kaupthing Bank's after-effects for 2007
Kaupthing Bank letters net balance of ISK 70.0 billion (EUR 799 million).
- Shareholders' net balance for 2007 of ISK 70.0 billion - (ISK 85.3 billion in 2006)
- Shareholders' net balance for fourth division of ISK 9.8 billion - (ISK 18.1 billion in aforementioned aeon of 2006)
- Return on disinterestedness in 2007 of 23.5%.
- Earnings per allotment of ISK 95.2 (ISK 127.1 in 2006). Earnings per allotment for fourth division of ISK 13.4 (ISK 26.1 in Q4 2006)
- Net absorption assets in the fourth division up by 60.3% YoY to ISK 23.7 billion
- Net fee and agency assets in the fourth division grew by 19.0% YoY to ISK 14.1 billion
- Financial accident in Treasury of ISK 11.6 billion in the fourth quarter, primarily due to the abatement in the fair amount of acquired contracts, bonds and asset-backed securities
- Total assets of ISK 5,347.3 billion (EUR 58.3 billion) at year-end, accretion by 35.8% at a anchored barter amount during the year and by 31.9% in ISK
- Deposits as a allotment of absolute loans to barter added decidedly in 2007, from 29.6% at the alpha of the year to 41.8% at the end of the year
- In ablaze of the alternation on the banking markets, Kaupthing Bank and the sellers of NIBC accept appear their accommodation not to advance with the proposed accretion by Kaupthing Bank of NIBC
- The Board of Directors will adduce at the shareholders' affair that a allotment of ISK 14,810 actor be paid out for 2007, agnate to ISK 20 a share, or 21% of net earnings.
Hreidar Már Sigurdsson, CEO
"Kaupthing enjoyed a acceptable 2007; the year started decidedly acerb but the abatement on the all-embracing banking markets larboard its mark on the additional bisected of 2007. Return on disinterestedness was 23.5%, a a lot of satisfactory figure. The Bank is assuming able-bodied in all its amount business areas, and absorption assets during the fourth division was the accomplished yet recorded.
The adverse operating ambiance has led to a about-face in focus in operations, and the advance of the Bank's antithesis area is set to apathetic down this year. Management's prime focus is now on breeding agency assets and maximising efficiency. Funding is accepting adapted and the Bank is now agreement accretion accent on deposits. A new online bead case was alien during the fourth quarter, Kaupthing Edge, which has already been launched in 5 countries. In the endure four months, about 30,000 barter accept placed deposits with the Bank.
Kaupthing has accomplished an acceding with J.C. Flowers not to advance with the accretion of Dutch case NIBC attributable to the abrogating bearings on the banking markets. The planned allotment affair will accordingly no best be demography place. While this development is black for the Bank's stakeholders, the accommodation about decidedly reinforces Kaupthing's clamminess position, which is now actual robust."
Further information
For added advice on the after-effects amuse acquaintance Jónas Sigurgeirsson, Chief Communications Officer on +354 444 6112 or Ólöf Hildur Pálsdóttir, Investor Relations, on +354 444 6569 (ir@kaupthing.com). Information on Kaupthing Bank is aswell accessible on the Bank's website www.kaupthing.com.
About Kaupthing Bank
Kaupthing Bank offers absolute bartering and investment cyberbanking casework to individuals, companies and institutional investors. The Bank is a arch amateur in all the capital areas of the Icelandic banking market, and in accession to Iceland, the Bank's key markets are Denmark and the United Kingdom. The Bank focuses on the advance and development of its all-embracing activities and aims to be one of the arch investment banks in arctic Europe.
Kaupthing Bank operates in thirteen countries with its address amid in Reykjavík. The Bank's capital subsidiaries are FIH Erhvervsbank in Denmark, Kaupthing Singer & Friedlander in the United Kingdom, Kaupthing Bank Sverige, Kaupthing Bank Luxembourg, Kaupthing Bank in Finland, Norvestia Oyj in Finland, Kaupthing New York, Kaupthing Switzerland, Kaupthing Bank Belgium and Kaupthing Bank Norge in Norway. The Bank aswell has activities in Isle of Man, the United Arab Emirates (Dubai) and Qatar. As of 31 December 2007 the amount of full-time agnate positions was 3,334 at Kaupthing Bank and its subsidiaries. www.kaupthing.com
- Shareholders' net balance for 2007 of ISK 70.0 billion - (ISK 85.3 billion in 2006)
- Shareholders' net balance for fourth division of ISK 9.8 billion - (ISK 18.1 billion in aforementioned aeon of 2006)
- Return on disinterestedness in 2007 of 23.5%.
- Earnings per allotment of ISK 95.2 (ISK 127.1 in 2006). Earnings per allotment for fourth division of ISK 13.4 (ISK 26.1 in Q4 2006)
- Net absorption assets in the fourth division up by 60.3% YoY to ISK 23.7 billion
- Net fee and agency assets in the fourth division grew by 19.0% YoY to ISK 14.1 billion
- Financial accident in Treasury of ISK 11.6 billion in the fourth quarter, primarily due to the abatement in the fair amount of acquired contracts, bonds and asset-backed securities
- Total assets of ISK 5,347.3 billion (EUR 58.3 billion) at year-end, accretion by 35.8% at a anchored barter amount during the year and by 31.9% in ISK
- Deposits as a allotment of absolute loans to barter added decidedly in 2007, from 29.6% at the alpha of the year to 41.8% at the end of the year
- In ablaze of the alternation on the banking markets, Kaupthing Bank and the sellers of NIBC accept appear their accommodation not to advance with the proposed accretion by Kaupthing Bank of NIBC
- The Board of Directors will adduce at the shareholders' affair that a allotment of ISK 14,810 actor be paid out for 2007, agnate to ISK 20 a share, or 21% of net earnings.
Hreidar Már Sigurdsson, CEO
"Kaupthing enjoyed a acceptable 2007; the year started decidedly acerb but the abatement on the all-embracing banking markets larboard its mark on the additional bisected of 2007. Return on disinterestedness was 23.5%, a a lot of satisfactory figure. The Bank is assuming able-bodied in all its amount business areas, and absorption assets during the fourth division was the accomplished yet recorded.
The adverse operating ambiance has led to a about-face in focus in operations, and the advance of the Bank's antithesis area is set to apathetic down this year. Management's prime focus is now on breeding agency assets and maximising efficiency. Funding is accepting adapted and the Bank is now agreement accretion accent on deposits. A new online bead case was alien during the fourth quarter, Kaupthing Edge, which has already been launched in 5 countries. In the endure four months, about 30,000 barter accept placed deposits with the Bank.
Kaupthing has accomplished an acceding with J.C. Flowers not to advance with the accretion of Dutch case NIBC attributable to the abrogating bearings on the banking markets. The planned allotment affair will accordingly no best be demography place. While this development is black for the Bank's stakeholders, the accommodation about decidedly reinforces Kaupthing's clamminess position, which is now actual robust."
Further information
For added advice on the after-effects amuse acquaintance Jónas Sigurgeirsson, Chief Communications Officer on +354 444 6112 or Ólöf Hildur Pálsdóttir, Investor Relations, on +354 444 6569 (ir@kaupthing.com). Information on Kaupthing Bank is aswell accessible on the Bank's website www.kaupthing.com.
About Kaupthing Bank
Kaupthing Bank offers absolute bartering and investment cyberbanking casework to individuals, companies and institutional investors. The Bank is a arch amateur in all the capital areas of the Icelandic banking market, and in accession to Iceland, the Bank's key markets are Denmark and the United Kingdom. The Bank focuses on the advance and development of its all-embracing activities and aims to be one of the arch investment banks in arctic Europe.
Kaupthing Bank operates in thirteen countries with its address amid in Reykjavík. The Bank's capital subsidiaries are FIH Erhvervsbank in Denmark, Kaupthing Singer & Friedlander in the United Kingdom, Kaupthing Bank Sverige, Kaupthing Bank Luxembourg, Kaupthing Bank in Finland, Norvestia Oyj in Finland, Kaupthing New York, Kaupthing Switzerland, Kaupthing Bank Belgium and Kaupthing Bank Norge in Norway. The Bank aswell has activities in Isle of Man, the United Arab Emirates (Dubai) and Qatar. As of 31 December 2007 the amount of full-time agnate positions was 3,334 at Kaupthing Bank and its subsidiaries. www.kaupthing.com
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
Kaupthing Bank - Kaupthing Bank's after-effects for the aboriginal division of 2008
Net balance of ISK 18.7 billion (EUR 184 million)
* Shareholders' net balance of ISK 18.7 billion - ISK 20.3 billion in aforementioned aeon of 2007
* Annualised acknowledgment on disinterestedness in Q1 of 23.7%
* Earnings per allotment of ISK 26.1 against ISK 27.4 in Q1 2007
* Net absorption assets up by 31.2% from the aforementioned aeon in 2007
* Net fee and agency assets down by 11.3% from the aforementioned aeon in 2007
* Net banking assets totalled ISK 9.7 billion and decreased by 28.0% from the aforementioned aeon endure year
* Operating costs totalled ISK 21.6 billion in Q1 - an access of 21.8% from Q1 2007, but down 17.0% from Q4 2007 abstinent in euros
* The cost-to-income arrangement was 47.0%
* The 29.6% abrasion of the ISK in Q1 2008 has a cogent aftereffect on the Bank's after-effects and all comparisons amid periods
* Total assets of ISK 6,368.4 billion (EUR 53.3 billion) at the end of March, abbreviating by 8.7% in euros from the alpha of 2008, but accretion by 19.1% in ISK
* The CAD Ratio charcoal able at 11.4% and the Tier 1 arrangement was at 9.1% in the end of Q1
* Since 2005 Kaupthing has maintained a adopted bill conflict in adjustment to barrier its disinterestedness arrangement adjoin the abrasion of the ISK. The abrasion of the ISK in the aboriginal division of 2008 resulted in an access of ISK 72.5 billion in shareholders' equity
Hreidar Már Sigurdsson, CEO
"These after-effects are a lot of satisfactory in appearance of the arduous altitude on the banking markets. The abstracts authenticate Kaupthing's adeptness to acknowledge bound to alteration bazaar circumstances. Operating costs alone decidedly amid abode and this trend will continue. Our antithesis area decreased by 9% in euros during the division in acknowledgment to bazaar conditions. The accepted above of the Bank's assets is good, admitting the access in impairments amid quarters. In the accepted bazaar ambiance it is crucially important that we accept been able to assure the Bank's able-bodied liquidity, and this will abide to be the management's key priority. We are able-bodied able if the accepted bazaar bearings becomes abiding but we about accede our activity and affairs to be satisfactory."
Further information
For added advice on the after-effects amuse acquaintance Ólöf Hildur Pálsdóttir, Deputy Head of Investor Relations, on +354 444 6569 (ir@kaupthing.com) and Frída Filipina Fatalla, Investor Relations. Information on Kaupthing Bank is aswell accessible on the Bank's website www.kaupthing.com.
About Kaupthing Bank
Kaupthing Bank is a Northern European case alms chip banking casework to companies, institutional investors and individuals. These casework cover accumulated and retail banking, investment banking, basic markets services, treasury services, asset administration and absolute abundance administration for clandestine cyberbanking clients.
The Bank operates in all of the Nordic countries (Denmark, Finland, Iceland, Norway and Sweden) and in 6 countries in acreage Europe (the UK, Luxembourg, Belgium, Switzerland, Germany and the Isle of Man), as able-bodied as the US, the Dubai International Financial Centre (DIFC) and the Qatar Financial Centre (QFC). In Denmark, Kaupthing Bank operates beneath the name FIH Erhvervsbank. As of 31 December 2007 the amount of full-time agnate positions was 3,334 at Kaupthing Bank and its subsidiaries. www.kaupthing.com
* Shareholders' net balance of ISK 18.7 billion - ISK 20.3 billion in aforementioned aeon of 2007
* Annualised acknowledgment on disinterestedness in Q1 of 23.7%
* Earnings per allotment of ISK 26.1 against ISK 27.4 in Q1 2007
* Net absorption assets up by 31.2% from the aforementioned aeon in 2007
* Net fee and agency assets down by 11.3% from the aforementioned aeon in 2007
* Net banking assets totalled ISK 9.7 billion and decreased by 28.0% from the aforementioned aeon endure year
* Operating costs totalled ISK 21.6 billion in Q1 - an access of 21.8% from Q1 2007, but down 17.0% from Q4 2007 abstinent in euros
* The cost-to-income arrangement was 47.0%
* The 29.6% abrasion of the ISK in Q1 2008 has a cogent aftereffect on the Bank's after-effects and all comparisons amid periods
* Total assets of ISK 6,368.4 billion (EUR 53.3 billion) at the end of March, abbreviating by 8.7% in euros from the alpha of 2008, but accretion by 19.1% in ISK
* The CAD Ratio charcoal able at 11.4% and the Tier 1 arrangement was at 9.1% in the end of Q1
* Since 2005 Kaupthing has maintained a adopted bill conflict in adjustment to barrier its disinterestedness arrangement adjoin the abrasion of the ISK. The abrasion of the ISK in the aboriginal division of 2008 resulted in an access of ISK 72.5 billion in shareholders' equity
Hreidar Már Sigurdsson, CEO
"These after-effects are a lot of satisfactory in appearance of the arduous altitude on the banking markets. The abstracts authenticate Kaupthing's adeptness to acknowledge bound to alteration bazaar circumstances. Operating costs alone decidedly amid abode and this trend will continue. Our antithesis area decreased by 9% in euros during the division in acknowledgment to bazaar conditions. The accepted above of the Bank's assets is good, admitting the access in impairments amid quarters. In the accepted bazaar ambiance it is crucially important that we accept been able to assure the Bank's able-bodied liquidity, and this will abide to be the management's key priority. We are able-bodied able if the accepted bazaar bearings becomes abiding but we about accede our activity and affairs to be satisfactory."
Further information
For added advice on the after-effects amuse acquaintance Ólöf Hildur Pálsdóttir, Deputy Head of Investor Relations, on +354 444 6569 (ir@kaupthing.com) and Frída Filipina Fatalla, Investor Relations. Information on Kaupthing Bank is aswell accessible on the Bank's website www.kaupthing.com.
About Kaupthing Bank
Kaupthing Bank is a Northern European case alms chip banking casework to companies, institutional investors and individuals. These casework cover accumulated and retail banking, investment banking, basic markets services, treasury services, asset administration and absolute abundance administration for clandestine cyberbanking clients.
The Bank operates in all of the Nordic countries (Denmark, Finland, Iceland, Norway and Sweden) and in 6 countries in acreage Europe (the UK, Luxembourg, Belgium, Switzerland, Germany and the Isle of Man), as able-bodied as the US, the Dubai International Financial Centre (DIFC) and the Qatar Financial Centre (QFC). In Denmark, Kaupthing Bank operates beneath the name FIH Erhvervsbank. As of 31 December 2007 the amount of full-time agnate positions was 3,334 at Kaupthing Bank and its subsidiaries. www.kaupthing.com
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