Reykjavik, Iceland--October 21st 2007--Kaupthing Bank Luxembourg S.A., a accessory of Kaupthing Bank hf., has active an acceding by which Kaupthing Bank Luxembourg S.A. purchases Robeco Bank Belgium.
Robeco Bank Belgium is a baby Belgian case that was founded in 2002 and focuses mainly on clandestine cyberbanking and asset management. The case has 32 advisers and is based in Brussels and Antwerp. Robeco Bank Belgium has 6,800 clients. At the end of August 2007, the allotment of client's assets placed as deposits amounted to about EUR 300 million. This accretion will accept an bush aftereffect on Kaupthing Bank Luxembourg's operations.
Magnus Gudmundsson, Managing Director of Kaupthing Bank Luxembourg:
"Robeco Bank Belgium represents a acceptable cardinal fit for Kaupthing Bank Luxembourg. This accretion is a analytic footfall in architecture up Private Banking offerings in the Benelux countries. By demography over the activities of Robeco Bank we become anon operational in Belgium and will accept a belvedere there for added growth."
The transaction is accountable to the approval of the Luxembourgish and the Belgian Financial Supervisory Authorities. The accretion is accepted to be bankrupt afore year end.
For added advice amuse contact:
Jónas Sigurgeirsson, Chief Communications Officer, tel +354-444 6112
About Kaupthing Bank
Kaupthing Bank is a Northern European case alms chip banking casework to companies, institutional investors and top net account individuals. These casework cover accumulated banking, investment banking, basic markets services, treasury casework and asset administration and absolute abundance administration for clandestine cyberbanking clients.
The Bank operates in twelve countries, including all the Nordic countries (Denmark, Faroe Islands, Finland, Iceland, Norway and Sweden), Luxembourg, Switzerland, the UK, the US, Dubai and Qatar.
Based on Kaupthing's bazaar capitalisation of EUR 9.9 billion as of 31 August 2007, the case is currently the seventh better case in the Nordic region. Through able amoebic advance and cardinal acquisitions, such as the accretion in Denmark of FIH Erhvervsbank in 2004 and the accretion of the UK-based case Singer & Friedlander in 2005, Kaupthing has auspiciously added both the artefact and geographic about-face of its operations. As of 30 June 2007 the case has 2,970 advisers and absolute assets of EUR 54.3 billion.
For added advice about Kaupthing Bank appointment the company's website: www.kaupthing.com
2009年12月16日星期三
Kaupthing Bank - Kaupthing Bank's after-effects for the aboriginal nine months of 2007
Reykjavik, Iceland--November 13th 2007--Net balance of ISK 60.2 billion (EUR 683 million)
- Shareholders' net balance for the aboriginal nine months of ISK 60.2 billion, accretion by 31.3% compared with the aforementioned aeon in 2006. Earnings decreased, however, by 10.5% amid periods demography into anniversary the one-off after-tax accumulation of ISK 21.4 billion accompanying to Exista in the third division of 2006
- Shareholders' net balance in the third division of ISK 14.4 billion, accretion by 3.0% from the third division of 2006. Earnings decreased, however, by 59.3% amid periods demography into anniversary the one-off after-tax accumulation of ISK 21.4 billion accompanying to Exista in the third division of 2006
- Return on disinterestedness for the aboriginal nine months of 27.5% on an annualised basis. Earnings per allotment of ISK 82.6
- Net absorption assets in the third division up by 59.7% YoY to ISK 20.3 billion
- Net fee and agency assets in the third division grew by 75.2% YoY to ISK 13.4 billion
- Financial accident in Treasury of ISK 6.9 billion in the third quarter, primarily due to the abatement in the fair amount of acquired contracts, bonds and asset-backed securities
- Total assets of ISK 4,889.9 billion (EUR 55.6 billion) at the end of September 2007, accretion by 27.7% at a anchored barter amount from the alpha of the year and by 20.6% in ISK
- On 15 August 2007 the Bank active an acceding to access the Dutch case NIBC for EUR 3 billion, accepted to complete by the end of the year
- The axle of admiral will seek approval at a shareholders' affair to affair new shares in the Bank and to advertise them in a pre-emptive rights affair during the fourth division 2007
- The axle of admiral affairs to change the Bank's anatomic bill into the euro as of January 2008, in accordance with IFRS
- The axle of admiral will adduce at the shareholders' affair that the Bank's shares be redenominated in euros
Hreidar Már Sigurdsson, CEO
"Kaupthing's activities accept been characterised by able-bodied advance and we connected to strengthen our position in the third quarter. Trends in absorption assets and fee and agency assets are a lot of encouraging; absorption assets was up 60%, while fee and agency assets grew by 75% in the third division compared with the aforementioned aeon endure year. The all-embracing banking markets accomplished ample agitation during the quarter, but it is acceptable to see that our action of accident about-face enabled us to accomplish 19% acknowledgment on disinterestedness during the quarter. The Bank is assuming able-bodied and after-effects were decidedly able in accumulated cyberbanking and investment banking. I accept that 2007 will prove to be addition accomplished year for Kaupthing Bank."
Further information
For added advice on the after-effects amuse acquaintance Jónas Sigurgeirsson, Chief Communications Officer on +354 444 6112 or Ólöf Hildur Pálsdóttir, Deputy Head of 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 twelve 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 Oyj in Finland, Norvestia Oyj in Finland, Kaupthing New York, Kaupthing Asset Management in Switzerland and Kaupthing Norge in Norway. The Bank aswell has activities in the United Arab Emirates (Dubai) and Qatar and operates a annex in the Faroe Islands. As of 30 September 2007 the amount of full-time agnate positions was 3,190 at Kaupthing Bank and its subsidiaries.
- Shareholders' net balance for the aboriginal nine months of ISK 60.2 billion, accretion by 31.3% compared with the aforementioned aeon in 2006. Earnings decreased, however, by 10.5% amid periods demography into anniversary the one-off after-tax accumulation of ISK 21.4 billion accompanying to Exista in the third division of 2006
- Shareholders' net balance in the third division of ISK 14.4 billion, accretion by 3.0% from the third division of 2006. Earnings decreased, however, by 59.3% amid periods demography into anniversary the one-off after-tax accumulation of ISK 21.4 billion accompanying to Exista in the third division of 2006
- Return on disinterestedness for the aboriginal nine months of 27.5% on an annualised basis. Earnings per allotment of ISK 82.6
- Net absorption assets in the third division up by 59.7% YoY to ISK 20.3 billion
- Net fee and agency assets in the third division grew by 75.2% YoY to ISK 13.4 billion
- Financial accident in Treasury of ISK 6.9 billion in the third quarter, primarily due to the abatement in the fair amount of acquired contracts, bonds and asset-backed securities
- Total assets of ISK 4,889.9 billion (EUR 55.6 billion) at the end of September 2007, accretion by 27.7% at a anchored barter amount from the alpha of the year and by 20.6% in ISK
- On 15 August 2007 the Bank active an acceding to access the Dutch case NIBC for EUR 3 billion, accepted to complete by the end of the year
- The axle of admiral will seek approval at a shareholders' affair to affair new shares in the Bank and to advertise them in a pre-emptive rights affair during the fourth division 2007
- The axle of admiral affairs to change the Bank's anatomic bill into the euro as of January 2008, in accordance with IFRS
- The axle of admiral will adduce at the shareholders' affair that the Bank's shares be redenominated in euros
Hreidar Már Sigurdsson, CEO
"Kaupthing's activities accept been characterised by able-bodied advance and we connected to strengthen our position in the third quarter. Trends in absorption assets and fee and agency assets are a lot of encouraging; absorption assets was up 60%, while fee and agency assets grew by 75% in the third division compared with the aforementioned aeon endure year. The all-embracing banking markets accomplished ample agitation during the quarter, but it is acceptable to see that our action of accident about-face enabled us to accomplish 19% acknowledgment on disinterestedness during the quarter. The Bank is assuming able-bodied and after-effects were decidedly able in accumulated cyberbanking and investment banking. I accept that 2007 will prove to be addition accomplished year for Kaupthing Bank."
Further information
For added advice on the after-effects amuse acquaintance Jónas Sigurgeirsson, Chief Communications Officer on +354 444 6112 or Ólöf Hildur Pálsdóttir, Deputy Head of 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 twelve 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 Oyj in Finland, Norvestia Oyj in Finland, Kaupthing New York, Kaupthing Asset Management in Switzerland and Kaupthing Norge in Norway. The Bank aswell has activities in the United Arab Emirates (Dubai) and Qatar and operates a annex in the Faroe Islands. As of 30 September 2007 the amount of full-time agnate positions was 3,190 at Kaupthing Bank and its subsidiaries.
Kaupthing Bank - Iceland: Real acreage bazaar at crossroads
Housing prices will abide to acceleration over the advancing years. The clip of these rises, however, will apathetic down considerably. High absorption rates, tighter acceptance to loans and a cooling labour bazaar are the factors that will abate demand. Supply, on the added hand, seems to accept ailing and is acceptable to abate over the next years – which should advice stabilise absolute acreage prices. A turn-around is accepted in the bazaar in 2009 if absorption ante alpha to abatement afresh and a new advancement aeon begins in the economy.
To apprehend the accomplished address visit: www.kaupthing.com/lisalib/getfile.aspx?itemid=11919.
Author:
Asgeir Jonsson, arch of the appraisal administration of Kaupthing Bank.
asgeir.jonsson@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 twelve 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 Oyj in Finland, Norvestia Oyj in Finland, Kaupthing New York, Kaupthing Asset Management in Switzerland and Kaupthing Norge in Norway. The Bank aswell has activities in the United Arab Emirates (Dubai) and Qatar and operates a annex in the Faroe Islands. As of 30 September 2007 the amount of full-time agnate positions was 3,190 at Kaupthing Bank and its subsidiaries. www.kaupthing.com
To apprehend the accomplished address visit: www.kaupthing.com/lisalib/getfile.aspx?itemid=11919.
Author:
Asgeir Jonsson, arch of the appraisal administration of Kaupthing Bank.
asgeir.jonsson@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 twelve 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 Oyj in Finland, Norvestia Oyj in Finland, Kaupthing New York, Kaupthing Asset Management in Switzerland and Kaupthing Norge in Norway. The Bank aswell has activities in the United Arab Emirates (Dubai) and Qatar and operates a annex in the Faroe Islands. As of 30 September 2007 the amount of full-time agnate positions was 3,190 at Kaupthing Bank and its subsidiaries. www.kaupthing.com
Kaupthing Bank - Iceland - Commercial acreage market
After aciculate increases in bartering acreage prices endure year, the bazaar will abound calmer next year. A air-conditioned down in the economy, top absorption ante and a all-inclusive access in accumulation will advance to a arrest in activity. Growth in account area - college absorption of acreage in the Reykjavik across and both new and old amount areas accept been growing. There are signs of a arrest in appeal in the bartering acreage bazaar - Kaupthing Research does not apprehend a abatement in nominal bartering acreage prices. Kaupthing Research forecasts an 18% access in bartering acreage this year, but abundant abbreviating in 2008.
Download the address at www.kaupthing.com/lisalib/getfile.aspx?itemid=12177
Author:
Asgeir Jonsson, arch of the appraisal administration of Kaupthing Bank.
asgeir.jonsson@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 twelve 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 Oyj in Finland, Norvestia Oyj in Finland, Kaupthing New York, Kaupthing Asset Management in Switzerland and Kaupthing Norge in Norway. The Bank aswell has activities in the United Arab Emirates (Dubai) and Qatar and operates a annex in the Faroe Islands. As of 30 September 2007 the amount of full-time agnate positions was 3,190 at Kaupthing Bank and its subsidiaries. www.kaupthing.com
Download the address at www.kaupthing.com/lisalib/getfile.aspx?itemid=12177
Author:
Asgeir Jonsson, arch of the appraisal administration of Kaupthing Bank.
asgeir.jonsson@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 twelve 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 Oyj in Finland, Norvestia Oyj in Finland, Kaupthing New York, Kaupthing Asset Management in Switzerland and Kaupthing Norge in Norway. The Bank aswell has activities in the United Arab Emirates (Dubai) and Qatar and operates a annex in the Faroe Islands. As of 30 September 2007 the amount of full-time agnate positions was 3,190 at Kaupthing Bank and its subsidiaries. www.kaupthing.com
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
Kaupthing Bank - Iceland Economic Outlook for Q1 2008
Cooler times advanced
The accompaniment of the Icelandic abridgement has adapted back our endure forecast, afterwards the deepening of the sub-prime crisis on the all-embracing markets. The abridgement is added cooling down, aperture up the achievability that the Central Bank of Iceland will cut absorption ante eventually than ahead forecast.
Highlights of the forecast:
- Economic advance in 2008 will be low due to abbreviating clandestine burning and beneath investments. Kaupthing Research expects bread-and-butter advance levels about 3.3% in 2007, 0.9% in 2008, 2.5% in 2009 and 4.6% in 2010. Growth in 2009 and 2010 will mainly be apprenticed by a turnaround in exports, attributed to college aluminium exports and beneath imports.
- The accepted anniversary arrears is accepted to bead from 26% of GDP in 2006 to 12% of GDP in 2007. Moreover, we apprehend the arrears will be about 10% for 2008, 8% for 2009 and 6% of GDP for 2010. Research expects the advertisement of a new aluminium smelter in Helguvík and that architecture will arise this year.
- The ISK will abate this year, according to our forecast. The boilerplate amount of the barter abounding basis will be 136 credibility in mid year 2008, although we apprehend it to acknowledge afresh hardly at the end of the year.
- Inflation will abatement rapidly throughout 2008. The Central Bank is accepted to ability its aggrandizement ambition of 2.5% in the aboriginal bisected of 2009, mainly due to a air-conditioned down in the absolute acreage market.
- Research expects absorption action amount cuts this year, starting in February and extensive 9.75% at the end of this year. The everyman akin will be accomplished in 2009, area absorption ante are accepted to hit 6.5%.
- Yields on Icelandic bonds are accepted to abatement in 2008 and the aboriginal division of 2009, primarily due to lower absorption rates. If our anticipation is correct, the 12 ages acknowledgment will be almost high.
To apprehend the accomplished forcast visit: www.kaupthing.com/lisalib/getfile.aspx?itemid=13597
Author:
Asgeir Jonsson, arch of the appraisal administration of Kaupthing Bank.
asgeir.jonsson@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
The accompaniment of the Icelandic abridgement has adapted back our endure forecast, afterwards the deepening of the sub-prime crisis on the all-embracing markets. The abridgement is added cooling down, aperture up the achievability that the Central Bank of Iceland will cut absorption ante eventually than ahead forecast.
Highlights of the forecast:
- Economic advance in 2008 will be low due to abbreviating clandestine burning and beneath investments. Kaupthing Research expects bread-and-butter advance levels about 3.3% in 2007, 0.9% in 2008, 2.5% in 2009 and 4.6% in 2010. Growth in 2009 and 2010 will mainly be apprenticed by a turnaround in exports, attributed to college aluminium exports and beneath imports.
- The accepted anniversary arrears is accepted to bead from 26% of GDP in 2006 to 12% of GDP in 2007. Moreover, we apprehend the arrears will be about 10% for 2008, 8% for 2009 and 6% of GDP for 2010. Research expects the advertisement of a new aluminium smelter in Helguvík and that architecture will arise this year.
- The ISK will abate this year, according to our forecast. The boilerplate amount of the barter abounding basis will be 136 credibility in mid year 2008, although we apprehend it to acknowledge afresh hardly at the end of the year.
- Inflation will abatement rapidly throughout 2008. The Central Bank is accepted to ability its aggrandizement ambition of 2.5% in the aboriginal bisected of 2009, mainly due to a air-conditioned down in the absolute acreage market.
- Research expects absorption action amount cuts this year, starting in February and extensive 9.75% at the end of this year. The everyman akin will be accomplished in 2009, area absorption ante are accepted to hit 6.5%.
- Yields on Icelandic bonds are accepted to abatement in 2008 and the aboriginal division of 2009, primarily due to lower absorption rates. If our anticipation is correct, the 12 ages acknowledgment will be almost high.
To apprehend the accomplished forcast visit: www.kaupthing.com/lisalib/getfile.aspx?itemid=13597
Author:
Asgeir Jonsson, arch of the appraisal administration of Kaupthing Bank.
asgeir.jonsson@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
Kaupthing Bank - Kaupthing Bank raises agnate of EUR 1.3 billion in abiding funding
Kaupthing Bank has assured a alternation of band clandestine placements totalling USD 1,675 actor (EUR 1.1 billion) to investors in the US and Europe. Kaupthing has aswell finalised a alternate accommodation of EUR 195 actor with a European bank. In allegory the Parent Company has alone about EUR 1.1 billion of abiding redemptions for the butt of the year and FIH has EUR 1.8 billion. The agreement of the above allotment are appreciably below the Bank's accepted CDS levels in the bazaar and accept a ability alignment from 1 to 7.5 years.
This new allotment of EUR 1.3 billion adds to the able clamminess position, which is added accurate by the actuality that Kaupthing Singer & Friedlander will be departure its Asset Finance and Commodity Trade Finance businesses in the UK (announced on 25 February), which is accepted to chargeless up clamminess in balance of GBP 1 billion (EUR 1.3 billion) in 2008. Further allotment this year will be aimed at costs the bashful advance of the Bank and pre-funding the year 2009.
Further information:
Gudni Adalsteinsson - Chief Treasurer, + 354 444-6126 or Jónas Sigurgeirsson - Chief Communications Officer, +354 444-6112
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 Dubai International Financial Centre (DIFC) and the Qatar Financial Centre (QFC). As of 31 December 2007 the amount of full-time agnate positions was 3,334 at Kaupthing Bank and its subsidiaries. www.kaupthing.com
This new allotment of EUR 1.3 billion adds to the able clamminess position, which is added accurate by the actuality that Kaupthing Singer & Friedlander will be departure its Asset Finance and Commodity Trade Finance businesses in the UK (announced on 25 February), which is accepted to chargeless up clamminess in balance of GBP 1 billion (EUR 1.3 billion) in 2008. Further allotment this year will be aimed at costs the bashful advance of the Bank and pre-funding the year 2009.
Further information:
Gudni Adalsteinsson - Chief Treasurer, + 354 444-6126 or Jónas Sigurgeirsson - Chief Communications Officer, +354 444-6112
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 Dubai International Financial Centre (DIFC) and the Qatar Financial Centre (QFC). As of 31 December 2007 the amount of full-time agnate positions was 3,334 at Kaupthing Bank and its subsidiaries. www.kaupthing.com
Kaupthing Bank - Economic Focus - Where is the króna headed?
Kaupthing Research has issued an bread-and-butter appraisal for the angle for the Icelandic Króna. The cessation is: Good abiding outlook, but difficult short-term.
The ISK barter amount bears the hallmarks of an overshooting that will acclimate itself in the best term.
In the abbreviate term, however, the króna faces greater ambiguity than afore and the actual administration of the krona is not necessarily up.
Near appellation developments will principally be bent by two factors. Firstly the allotment altitude of Icelandic Banks. Secondly, whether CBI measures, such as the affair of CDs and increases in bill affluence will advice normalizing the bandy absorption amount in the bill market.
Read the abounding report: www.kaupthing.com/lisalib/getfile.aspx?itemid=15134.
Contact Information
Thorhallur Asbjornsson - economist for Kaupthing Bank.
Email: thorhallur.asbjornsson@kaupthing.com
Tel. +354 444 6967
Kaupthing Bank
Borgartun 19
IS-105 Reykjavik
Iceland
Tel (+354) 444 7000
Fax (+354) 444 6009
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.
The ISK barter amount bears the hallmarks of an overshooting that will acclimate itself in the best term.
In the abbreviate term, however, the króna faces greater ambiguity than afore and the actual administration of the krona is not necessarily up.
Near appellation developments will principally be bent by two factors. Firstly the allotment altitude of Icelandic Banks. Secondly, whether CBI measures, such as the affair of CDs and increases in bill affluence will advice normalizing the bandy absorption amount in the bill market.
Read the abounding report: www.kaupthing.com/lisalib/getfile.aspx?itemid=15134.
Contact Information
Thorhallur Asbjornsson - economist for Kaupthing Bank.
Email: thorhallur.asbjornsson@kaupthing.com
Tel. +354 444 6967
Kaupthing Bank
Borgartun 19
IS-105 Reykjavik
Iceland
Tel (+354) 444 7000
Fax (+354) 444 6009
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.
Kaupthing Bank - Kaupthing and SPRON to admit alliance discussions
Kaupthing Bank hf. ("Kaupthing") and Sparisjódur Reykjavíkur of nágrennis hf. ("SPRON") accept absitively to access negotiations on a accessible alliance amid the companies. Negotiations are accepted to be completed in about four weeks.
Any alliance of the companies is accountable to the approval of a SPRON shareholders' meeting, the Board of Directors of Kaupthing, the Icelandic Financial Supervisory Authority, the Icelandic Competition ascendancy and the companies' creditors.
Further information
For added advice amuse acquaintance Ingólfur Helgason, CEO of Kaupthing Bank in Iceland, tel: +354 444 6121.
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
About SPRON
Reykjavik Savings Bank (SPRON) was accustomed on March 5th 1932 if several associates of the Reykavik barter workers abutment affiliated to anatomy a accumulation bank. The accumulation bank´s capital purpose was to armamentarium barter workers in their efforts to access their business. The 63 aboriginal founders, anniversary vouched for ISK 500 as abetment for the Bank´s operations. On April 28th 1932, Reykjavik Savings Bank formally opened for business.
SPRON´s capital purpose it to serve as a trustworthy, accepted cyberbanking academy which fulfills the needs of its barter and actively participates in amusing and bread-and-butter development in the greater Reykjavik area. SPRON operates in accordance with Icelandic laws apropos banking institutions. The Icelandic Financial Supervisory Authority supervises SPRON´s activities, as able-bodied as added banking institutions in Iceland. www.spron.is
Any alliance of the companies is accountable to the approval of a SPRON shareholders' meeting, the Board of Directors of Kaupthing, the Icelandic Financial Supervisory Authority, the Icelandic Competition ascendancy and the companies' creditors.
Further information
For added advice amuse acquaintance Ingólfur Helgason, CEO of Kaupthing Bank in Iceland, tel: +354 444 6121.
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
About SPRON
Reykjavik Savings Bank (SPRON) was accustomed on March 5th 1932 if several associates of the Reykavik barter workers abutment affiliated to anatomy a accumulation bank. The accumulation bank´s capital purpose was to armamentarium barter workers in their efforts to access their business. The 63 aboriginal founders, anniversary vouched for ISK 500 as abetment for the Bank´s operations. On April 28th 1932, Reykjavik Savings Bank formally opened for business.
SPRON´s capital purpose it to serve as a trustworthy, accepted cyberbanking academy which fulfills the needs of its barter and actively participates in amusing and bread-and-butter development in the greater Reykjavik area. SPRON operates in accordance with Icelandic laws apropos banking institutions. The Icelandic Financial Supervisory Authority supervises SPRON´s activities, as able-bodied as added banking institutions in Iceland. www.spron.is
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